SBI to Launch Exclusive SME Credit Cards in India

In July, SBI Cards a JV of India’s Largest Bank the SBI and GE Capital launched Corporate Credit Cards. Taking a step further in the world of business, SBI has announced that it will very soon launch SBI Cards specifically designed to Indian SMEs. The reason for venturing into SME space could be that SBI was able to reach 500 Corporate customers and has now increased its target to 2,000 by the end of next fiscal.

SBI Cards, CEO said,

We are working on the SME Card product and are hopeful of launching this by early next fiscal. SBI Cards will be leveraging Parent Bank’s association with the SME Sector for the new product. It’ll be designed in such a way that it will help cash starved small enterprises to meet their working capital requirements.

SME Cards is a part of the company’s strategy to expand its clientele and bring in profitable customers with clean credit history. Finally, the PSU giant has woken up to harness the power of Social Media and will be reaching out to potential customers through the same.

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