Fullerton India, a subsidiary of Temasek Holdings Singapore operating in the Indian NBFC market is likely to launch a credit card in tie-up with some bank. Since Temasek is one of the largest share holders in ICICI bank, it is likely that they will tie-up with ICICI Bank. ICICI’s customer service is pathetic and this maybe a hurdle in Temasek signing up with it.
Fullerton India currently operates in 100 Indian cities. It is aiming to open 400 more financial retail outlets by 2010 with an investment of Rs 1,000 crore.