Avenues signs net banking and direct debit agreement with Bank of Baroda

5th March 2009 – Mumbai, India

Avenues is pleased to announce that it has added the 26th Indian Bank ‘Bank of Baroda’ to its robust direct debit engine. The Bank of Baroda is the sixth largest bank in India with a large customer base located all across India. It also has a strong international presence with offices and branches in 25 other countries such as United States of America, United Kingdom, Australia, Bahamas, Bahrain, Belgium, China, Hong Kong, Malaysia and many more.

The signing of this net banking and debit agreement will enable Avenues to increase its debit card options to 15 and its direct debit options to 26. These additions will help expand its associated merchants, hoteliers and event organizations reach within the Indian Sub-continent and further its goal to provide them with the very best in terms of technology, service and payment options.

The Bank of Baroda will also benefit with an increase in its brand value in the eyes of its customers. The agreement with Avenues will give their customer easy access to thousands of merchant, hotel and event websites. They will now be able to pay for products and services, hotel accommodation and event tickets at any of these associated Avenues websites directly through their Bank of Baroda bank accounts.

All-in-all, this net banking and debit agreement will prove to be highly beneficial to both parties.

About Bank of Baroda
Established in 1908, Bank of Baroda is the sixth largest bank in India. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, credit cards and asset management.

The Bank of Baroda provides these services in India through its network of over 2800 branches and offices, and 1000+ ATMs. It also has a strong international presence with a network of 72 offices in 25 countries, 6 subsidiaries and 4r representative offices.

About Avenues
Avenues is a profitable, debt-free company and currently services thousands of eMerchants worldwide through its solutions - www.CCAvenue.com, www.ResAvenue.com, www.EventAvenue.com, www.MembersAvenue.com, www.TrustAvenue.com. It is incorporated in India, and has offices in Singapore, Hong Kong, and USA. Avenues is the largest integrated eCommerce solutions provider in South Asia and has shown revenue growth and profit growth consistently, year on year. For more information, log onto: www.Avenues.info.