SBI to Increase Co-Branding Credit Business
SBI Card which is a subsidiary of the State Bank of India and operating as an NBFC is exploring the option of tying up with regional banks to expand its national footprint. SBI Card has forged alliance with United Bank of India and Catholic Syrian Bank, as step in this direction.
SBI Card has alliance with the Indian Railways, Tatas, Hero Honda etc for Co-branded credit cards. The Credit Card industry in India is growing anually at the rate of 30%, while SBI has been growing at the rate of 45%. SBI is the second largest issuer of credit cards in India with 3.5 million customers.
SBI Card, CEO Asthana is of the opinion that once Credit Bureaus are powerful in India, the APR on your credit card will go down so will delinquent accounts. For consumers with good payment track record, it will be easier to get finance at cheaper than market rates.
SBI Card has alliance with the Indian Railways, Tatas, Hero Honda etc for Co-branded credit cards. The Credit Card industry in India is growing anually at the rate of 30%, while SBI has been growing at the rate of 45%. SBI is the second largest issuer of credit cards in India with 3.5 million customers.
SBI Card, CEO Asthana is of the opinion that once Credit Bureaus are powerful in India, the APR on your credit card will go down so will delinquent accounts. For consumers with good payment track record, it will be easier to get finance at cheaper than market rates.
Published by CardBhai @ 3:15 AM
3 Reader Comments
3 Comments:
It is better if RBI or any other relavent govt agency cancels SBI card's license to start with. They offer free cards, then charge annual fees and will not allow to even cancel the card. On top of it, they will assess finance charges and late fees and the amount just grows!! Then the collection agent will call u with all non-sense and rubbish language. High time some solid action is taken against SBI Cards
What the hell is this even after making the payments the name of customer is there in CIBIL and the delay in the payment was still not the fault of the consumer...This is the coordination between India's Leading bank SBI and such organisation like CIBIL..
Better to rethink over this???
There is nothing new in this. In fact,this company specialises in the activity of offering the card 'free of charge and then promptly sends the bill for Annual charges !
Their second area of specialisation is using abusive language for recovering their outstanding bills however inflated and unreal these may be.They persist and persist by playing with foul language and means.
For this 'Great'institution carrying the name of State Bank
there is only one mission and that is to rip off their customers!
Moreover,one needs to think 10times before entering into any relationship with them.Some of their staff will not hesitate to indulge in fraudulent activities.
In other words nothing is impossible for this institution.
The Reserve Bank,-if has got some guts,should not only cancel their license,but put their employees to the place where they belong viz, Behind Bars!
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