After signing a pact with Visa, now non-public lender RBL Financial institution has resumed issuing bank cards to its new prospects. It plans to situation 1.2-1.4 million playing cards within the present monetary yr (FY22).
Its bank card enterprise confronted disruptions in July after the Reserve Financial institution of India positioned curbs on Credit cards on on-boarding new home prospects for breaching norms for knowledge storage. Mumbai-based lender which has a 5 per cent market share in bank cards in India.
In July, the financial institution had indicated that curbs on Credit cards may probably influence the present run price of about 0.1 million new bank card issuances per thirty days. It could begin issuing bank cards on the Visa cost community publish the know-how integration which is predicted to take eight to 10 weeks.
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First Printed: Wed, September 15 2021. 23:42 IST