The rush to move to a cashless society has begun and how. After the government scrapped Rs500 and Rs1,000 currency notes on 8 November, financial planners have been nudging their clients (the investors) to move towards banks.
Yes, we all have bank accounts but to start using them more, is the point here, and to also start using e-wallets (internet-based wallets where you can transfer cash using internet banking and then use to them to make various payments and purchases).
But Reliance Capital Asset Management Co. Ltd is busy rejuvenating one of its old products that, some distributors and advisers say, may just be what investors could use much more in future. It’s called Reliance Any Time Money (ATM-debit) card.
Launched in 2006, this card—in collaboration with HDFC Bank and Visa—was offered to investors of Reliance Liquid Fund (Treasury Plan), Reliance Liquid Fund – Cash Plan and Reliance Money Manager Fund.
