RBL Bank, after its partnership with IOCL, hopes that its credit card briefcase grow moderately by 12% to 15% in the current year, compared to sector growth of 20% to 25%.
He bank has a current market share of 5.04% of the total credit cards in circulation, according to data from the Reserve Bank of India.
“We have a customer base of 5.2 million on our credit card and we will continue to moderately grow this base and increase the banking relationship and have new customer acquisition at a moderate level,” Bikram Yadav, business head, credit cards, RBL Bank, said at the launch event in Leh. RBL Bank will issue this new card through the Mastercard network.
This partnership with IOCL will offer savings of up to 8.5% on fuel purchases to its customers, who will be able to earn 15 fuel points for every ₹100 spent, which will be capped at 2,000 points per month.
RBL Bank’s fuel card is the latest entrant in the market which has options like IDFC First Power+ credit card with Hindustan Petroleum which offers 5% savings and SBI Octane card with Bharat Petroleum which offers 6.25% savings.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.