Mumbai: Kotak Mahindra Bank has announced the launch of "best compliments card" - a prepaid fixed-denomination card that can be bought from any of the Bank's branches. Available in an attractive gift pack, the card can be used like a debit / credit card at any Visa outlet across the country.

At the product launch in Mumbai, film star Ajay Devgan presented the bank's first card to his wife Kajol on her birthday.

Dipak Gupta, executive director, Kotak Mahindra Bank said, "Deciding on a gift is a very tedious task for individuals. This card will add a new dimension to the aspect of gifting. It provides freedom and convenience both to the purchaser as well as the recipient.

Traditionally money has been the best gifting option. With the best compliments card, we aim to build tradition with technology."

The card, available in denomination of Rs500 and above, in multiples of Rs500 (to a maximum of Rs25,000) can be bought by anyone, including non-customers, from any Kotak Mahindra Bank branch. The card can be used by the recipient as often as required at any Visa outlet just like any other debit or credit card.

Kotak Mahindra reported an annual turnover of Rs1711.15 crore for the previous financial year