DMI Finance and RBL Bank Unveil New Co-Branded Credit Card

DMI Finance Private Limited ("DMI'), a part of the DMI Group, and RBL Bank today announced a strategic partnership to offer co-branded credit cards to existing customers of DMI Finance.

This partnership aims to broaden credit card access to customers across metro and non-metro cities in India by combining RBL Bank's deep expertise in credit card offering with DMI's strong track record of driving digital financial inclusion at scale. The credit card will include spend-driven benefits like accelerated reward points, no-cost EMI options, and discounts at top merchants.

Shivashish Chatterjee, Co-founder of the DMI Group said, "A pan-India footprint that covers 95%+ of pin codes and enables DMI to process over 30 million credit applications every year, when combined with RBL Bank's credit card expertise, presents a compelling offering for underserved communities across India. We remain focused on our core mission to deepen access to sustainable credit and enable economic mobility for millions of aspiring Indians."

Bikram Singh Yadav, Head - Credit Cards, RBL Bank said, "RBL Bank has a strong presence in the credit cards space with over 5.3 million cards in force. Our alliance with DMI Finance allows us to expand our scale and take our financial products to a larger consumer base. We aim to introduce highly innovative and value-centric products backed by a seamless digital onboarding experience."

Leveraging accessible DMI Finance's customer base of 25 million, this partnership will enhance financial inclusion by bringing credit card access to underserved, creditworthy individuals across India.

Shares of RBL Bank Limited was last trading in BSE at Rs. 209.75 as compared to the previous close of Rs. 213.80. The total number of shares traded during the day was 233174 in over 4556 trades.

The stock hit an intraday high of Rs. 214.80 and intraday low of 209.20. The net turnover during the day was Rs. 49481332.00.

Source : Equity Bulls

Keywords

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