SEPT 16: IDBI Bank Ltd has launched `Moneysmart', a Mumbai-specific smart card for commercial transactions. India's first smart card, Moneysmart would enable payment for even small value purchases and would be convenient for effecting cashless commercial transactions, bank's chief executive officer and managing director Gunit Guha said.Launching the card, police commissioner M N Singh said "unlike credit cards you'll not end up spending more with this Moneysmart as it will allow you to spend only as much as you have in your account".More than 1,000 merchant establishments in Mumbai have signed up for acceptance of the bank's card, 300 of which were issued today, he added. The card has an embedded microprocessor chip that turns the card into a reservoir of information, with the capability to store cash in electronic form, he added. In case of failure of telecom network, the cards can operate off-line as well, enabling the customers to read their unutilised balance.Geekay IPOMumbai: Geekay Imaging Ltd, a Bangalore-based digital imaging and multimedia solutions company is entering the capital market with 23.50 lakh equity shares of Rs 10 per share at a premium of Rs 10 per share aggregating Rs 4.70 crore. The company will now focus on niche domain knowledge areas for projects while simultaneously ensuring revenue streams. It has bagged software development orders worth Rs 5.41 crore with Direct Link UK Ltd and SWA, Germany. The project appraised by State Bank of India. The issue will be open from September 25 to 29 and listed at Bangalore and Ahmedabad stock exchanges.
