Zooming In

Crediting youth
Credit cards are little rectangular pieces of plastic. Right? They may be issued by different banks and they may be backed by Visa or Mastercard but they are always rectangular and instantly recognisable for what they are.

Now both Visa and Mastercard have decided that it's time to change shapes and boost sales. In particular, they are hoping to attract trendy youngsters who might like to wave around a flashy card that's slightly different from what their parents would use.

Enter the Mastercard Citibank-MTV credit card where the emphasis is on design. Unlike run-of-the-mill rectangular cards, the MTV Citibank Mastercard credit card has a curved contour at the bottom right side, bold colours and a see-through pattern.

The card is a variant of MasterCard's globally successful mc2 card design. Says Nitin Gupta, country manager, South Asia, Mastercard, "The credit card is one of the few consumer goods where there have been no style changes for nearly 20 years. But as the consumer is an evolving animal, changes in design, technology and packaging are important."

Mastercard's latest offering has come close on the heels of Visa's new product "" the Visa Mini. The Mini is around 43 per cent smaller than a regular credit card and is being promoted as a style statement.

Says Uttam Nayak, deputy country manager - South Asia, Visa International, "As technology-savvy Indians are exposed to newer, smaller and more compact options in every sphere of their lives, the Visa Mini card is an offering for today's fashionable and young cardholder."

There is a small catch, however, with the Visa Mini. It can't be used in an ATM so banks like ICICI and Standard Chartered are offering it in addition to a regular credit card.

On the credit side, so to speak, the Visa Mini does offer new ways of making a style statement. The card comes with a small hole in one corner so the really trendy can even wear it around their necks or put it on a key chain if they are so inclined.

Both Mastercard and Visa which have over 5 million and over 5.8 million credit cards respectively, hope to attract a major chunk of the young brigade through their fashionable and stylist offerings.

Says Gupta, "The youth is a very important market segment. Nearly 20 per cent of Mastercard users are below 24 years, and the mc2 card design is aimed at increasing this number."

The MTV Citibank Mastercard card is also reaching out to youngsters in other ways. It offers a host of benefits from over 300 merchants across the country including free entry and discounts to some of the country's popular nightclubs, pubs and restaurants, discounts at popular bookstores and apparel stores etc.

Across the border
For legal website Manupatra it was an unexpected spin-off from the India-Pakistan cricket series. The four-year-old website has just signed on an unexpected new customer: the Lahore High Court.

The court has bought Manupatra's entire package which includes the judgements of the Supreme Court of India and the high courts since 1950.

Manupatra's complete database will be available online in the Judges Library at Lahore. Pakistan's courts frequently refer to Indian judgements particularly those of the Supreme Court.

How did the Lahore High Court judges hear about Manupatra? That's where the cricket series becomes important. Some judges of the Delhi High Court had gone for the series and met up with their counterparts in Lahore.

On their return one judge suggested that Manupatra make a sales pitch to Lahore "Pakistan was not on our radar. But it's definitely a big market for us," says Deepak Kapoor, CEO, Manupatra. That might change in the future.

A leading Pakistan law firm has also bought the database and a Pakistan bookseller has offered to become its franchisee there. If lawyers get together can peace be far behind?

Rupee movements
It's a phenomenon that India has never known before. For the last one year Indians have watched with amazement as their currency soared against the US dollar. Software exporters watched with dismay but for Mr Singh in the street it meant that a holiday in Singapore or Bangkok was cheaper than before. Also, foreign education is suddenly a slightly cheaper proposition.

But the picture varies depending on which currency you compare the rupee with. It has gained 7.80 per cent over the US dollar in the last one year.

But it has depreciated 6 per cent, 6.05 per cent and 2.80 per cent against the Japanese yen, the pound sterling and the euro respectively, while it has gained 1.70 per cent against the Swiss franc. So has the rupee really strengthened or is it just that the dollar has weakened? And, if you are about to choose between Tokyo, London, Zurich or Washington for a holiday, study the above chart carefully. 

Currency	April 4, 2003	April 3, 2004	Appreciation
(Rs per Currency)	(Rs)	(Rs)	(%)
US Dollar	47.41	43.69	-7.80
Japanese Yen	0.39	0.42	6.00
UK Pound Sterling	74.62	79.44	6.05
Euro	51.37	52.80	2.80
Swiss Franc	34.31	33.74	-1.70