Wednesday, 30 July 2014

Yash finds solution in JIFI

“Yes Mr. Rockstar. Well come to my hovel.” I greeted my younger cousin Yash.
Yash entered the room. He was sweating. He wiped the pearls of sweat on his forehead with his t-shirt which said “No Facebook. No Twitter. No life.”
“So had great fun in Goa? Saw your pictures on Facebook. I wish I could have stayed forever in college.”
“Don’t remind me of college.” Said Yash.
“Why? Don’t you love your college?”
“Not any longer.” Said Yash.
“Why?”
“They have withheld my scholarship and asked me to open an account.”
“Then what is the problem? In a bid to bring transparency everything is linked to a bank account.”
“I don’t have a bank account.”
“Then open one.”
“I had been to open one. But there were long queues in the bank. There was utter chaos. I don’t think this system can work for me. I am not accustomed to standing in long queues.”
“But you can spend several hours on Facebook and Twitter?”
“Bhaiyya don’t sound old. Don’t drag my Facebook and Twitter into this like my Mom and Dad. Had I told them about my problem I am sure they would have delivered a series of sermons on me wasting time on the internet.”  
“But I am not telling you not to use Facebook and Twitter. The point I want to make is operating a bank account is as simple as using Facebook and Twitter. Rather you can operate your account using Facebook and Twitter.”
“My dear brother please I am in no mood to take any jokes.”
“Yash, I am damn serious. Kotak Mahindra Bank has launched Jifi, a fully-integrated social bank account. Jifi transcends digital banking by seamlessly incorporating social networking platforms such as Twitter and Facebook.”
The twinkle in Yash’s eyes was evident. It was the same twinkle which I was familiar with. It was the same twinkle, which I had seen when I had placed a chocolate on his greedy hands when he was a toddler. It was the same twinkle, which had appeared when I gifted him his first bicycle. It was the same twinkle, which had surfaced when I sponsored his first date. Yash had grown up before my own eyes.
“Come on bhaiyya. Tell me more. I am all ears.” My reverie was broken by Yash’s voice. His baritone reflected both his youth and impatience.
With Jifi, Kotak takes banking to the next orbit by providing a hassle-free proposition to tech-savvy persons who prefer to stay online at all times.”
“How can I open one?”
Right now the, Jifi is available by invitation only.”
“I am disappointed.” Yash said as he leaned against the headrest of the couch.
“Darling have patience. Let me complete. Simply invite yourself through the Facebook or Email option available on the homepage, to get started. You will receive an exclusive invitation from us to open your Jifi account.”
Yash leaned forward and asked “What are the documents that will be required?”
“To verify your identification details, you need to submit your PAN Card, Aadhar Card or Passport. To verify your address, you can submit your home Electricity or Telephone Bill. In the absence of these documents, other relevant KYC  documents will be accepted.”
“Cool.” Now Yash was engrossed in the conversation.
Jifi also has a loyalty point programme encourages high level of interactivity among account holders. You can earn transaction and social points on referring friends and online transactions. Makemytrip, Jabong, Ebay, BookmyShow is  where you can redeem your points. In addition to transacting on social media platforms, you can  also transact through net banking and the Kotak Mobile Banking app.”
“But what if my Facebook account gets hacked.” Yash was worried of the crimes in cyberspace.
“If the Facebook or Twitter account of the customer is hacked, then the hacker will be at the most able to see your reward points and use those points. But he will not be able to do any transactions or check your bank balance. Your banking details will be fully secure and cannot be seen by the hacker. For transactions, you have to log in to net banking.”
There was a sigh of relief on Yash’s face, albeit momentary. He dropped in another question.
“That is all right. But is it a real bank? Will I get an ATM card?”
“Of course, it is. While queries relating to account balance, spending and transaction details  will be available on the social platforms and can be accessed from anywhere in the world, Jifi customers will have access to all conventional bank offerings pan-India including branch and ATM network, a Platinum debit card, Internet and phone banking access.”
“Bhaiyya the account is so much like you. Though you have all the worldly experience that comes with age, you are still willing to adapt to the new age. You are so unlike my Mom and Dad.”
“Yash should I take it as a compliment or are you by any chance calling me an old hog? Let me give you one old man’s advice,” I adjusted my specs and took a deep breath “Yash you must save money. I know you wish you could but you can’t.  Here also Jifi comes to your help. Balances of over Rs.25,000 will be automatically moved into fixed deposits thereby fetching good interest."
“Thank God! At least now my parents won’t criticize everything new that I adopt.”
“There is some good news too. The Kotak Jifi account is a zero minimum balance current account.”
Hearing the words zero minimum balance, Yash immediately took out smart phone from his pocket and played with the keypad.
“What are you doing Yash?”
“Inviting myself to the Jifi account.”
“I am happy that one person who was out of the banking net is coming into it. Thanks to social bank account.”
“But bhaiyya how do you know so much about it?”
“Do you think you are the only one who is net savvy?” I said and both of us had a good laugh.
Visit official website of Kotak Jifi and bank while having all the fun.



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