Poonawalla Fincorp partners with IndusInd Bank for co-branded credit card, gets RBI permission

Poonawalla Fincorp Limited, a Cyrus Poonawalla group promoted non-banking finance company, has received permission from the Reserve Bank of India (RBI) to issue co-branded credit card with IndusInd Bank. The company envisages to launch this credit card within three months. This partnership will enable Poonawalla Fincorp to usher in a new age of flexible and versatile retail credit.

Expressing happiness at the development, Mr. Abhay Bhutada, Managing Director, Poonawalla Fincorp, said, "We are confident that this partnership with IndusInd Bank will be a game-changer adding a new vista to our bouquet of new-age financial products for India's tech-savvy and financially astute customers. We at Poonawalla Fincorp believe in ethical lending with complete transparency and no hidden charges while engaging with our customers. With its fully digital process and unique best-in-class product offerings, we expect to provide an exceptional & seamless customer experience to our existing and potential customers."

Shares of Poonawalla Fincorp Limited was last trading in BSE at Rs. 372.45 as compared to the previous close of Rs. 373.65. The total number of shares traded during the day was 79070 in over 2710 trades.

The stock hit an intraday high of Rs. 385.00 and intraday low of 370.00. The net turnover during the day was Rs. 29556195.00.

Source : Equity Bulls

Keywords

PoonawallaFincorp INE511C01022 RBIPermission CoBranded CreditCard IndusIndBank