Kotak Mahindra Bank (KMBL) and Indian Oil Corporation Limited today announced a strategic partnership to launch the Indian Oil Kotak co-branded fuel credit card. The collaboration will offer more value to customers in the form of an enhanced rewards programme giving customers value on fuel spends and on special non-fuel & frequent-spend categories, such as dining and groceries.
Sandeep Makker, Executive Director (Retail Transformation), Indian Oil Corporation Limited said, "We are very upbeat about the alliance with Kotak Mahindra Bank Limited. Indian Oil strongly believes in transforming fueling experiences by delivering best value to its customers. This partnership will help Indian Oil and Kotak Mahindra Bank Limited to further strengthen their brand reach and deepen customer engagement. This new co-branded credit card will be another initiative to promote the Government's vision of a Digital India. More than 98% of the Indian Oil's 33,000 plus fuel stations accept credit card, debit card and wallet payments."
Ambuj Chandna, President, Consumer Assets, Kotak Mahindra Bank said, "Fuel now accounts for a significant proportion of a family's monthly budget, and our intent with the Indian Oil Kotak fuel credit card is to give our customers the best value power-packed card that enables them to earn more on their high-ticket regular card spends such as fuel, dining and groceries. We are delighted to partner with a Maharatna like Indian Oil to launch the Indian Oil Kotak Credit Card and look forward to welcoming Indian Oil customers to the Kotak family."
Shares of Indian Oil Corporation Limited was last trading in BSE at Rs. 114.65 as compared to the previous close of Rs. 112.25. The total number of shares traded during the day was 932747 in over 6787 trades.
The stock hit an intraday high of Rs. 116.50 and intraday low of 113.40. The net turnover during the day was Rs. 107200167.00.
Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1789.85 as compared to the previous close of Rs. 1803.45. The total number of shares traded during the day was 120859 in over 6052 trades.
The stock hit an intraday high of Rs. 1818.90 and intraday low of 1773.20. The net turnover during the day was Rs. 216715595.00.