Pantaloon’s Big Bazaar bids BYE to ICICI Bank

Pantaloon Retail owned, Big Bazaar which was the first retail store credit card in India has bid goodbye to ICICI Bank. It is reliably learnt that apart from Big Bazaar handling the folio of 500,000 credit card holders to group company – Future Capital, consumer complaints against ICICI Bank was one of the reasons as well. The migration will be done after obtaining written consent from the consumers to be fairly transparent in the deal.

We will increasingly see retail stores offering their own credit cards henceforth. The idea behind this is to build brand loyalty by providing low APRs on balances on such cards.

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