Bank of Maharashtra and SBI Card Forms Partnership, Launch Bank of Maharashtra SBI Card

Bank of Maharashtra, one of India's leading public sector banks, and SBI Card, India's largest pure-play credit card issuer, today jointly announced the launch of a co-branded credit card - Bank of Maharashtra SBI Card. This one-of-its-kind co-branded credit card has been designed to provide a premium and highly rewarding shopping experience for discerning customers across segments. The Bank of Maharashtra SBI Card has been launched in three variants, Bank of Maharashtra SBI Card ELITE, Bank of Maharashtra SBI Card PRIME, and Bank of Maharashtra SimplySAVE SBI Card. This partnership aims to provide enhanced value and convenience, catering to the diverse lifestyle and evolving needs of the customers across the country.

The Bank of Maharashtra SBI Card will combine the trust and extensive reach of Bank of Maharashtra with the digital-first capabilities and robust value propositions of SBI Card. The co-branded credit card offers a host of compelling benefits, including accelerated reward points, fuel surcharge waiver, utility bill payments, exclusive discounts on travel, dining, shopping, and contactless payment capabilities for a seamless payment experience.

Shri Nidhu Saxena, Managing Director & CEO, Bank of Maharashtra, said, "This strategic partnership with SBI Card is in line with our digital and customer-centric transformation journey. The Bank of Maharashtra - SBI Card will allow our customers to access a world-class credit card platform backed by the strong brand equity of both organizations. We are confident that this collaboration will deepen customer engagement and enhance value."

Ms. Salila Pande, MD & CEO, SBI Card, stated, "Driven by customer-centricity, at SBI Card, we are constantly exploring strategic collaborations that enhance value for customers and strengthen our portfolio. Launch of the Bank of Maharashtra SBI Card in partnership with Bank of Maharashtra is one more step in this direction. We are confident that customers will immensely benefit from this co-branded credit card that is designed to offer rewarding experiences and value every time they transact."

The credit card will be available on RuPay as well as VISA payment platforms and will be accepted across millions of merchant outlets globally. Customers can apply for the credit card through Bank of Maharashtra branches.

This partnership marks a significant milestone in the financial ecosystem by leveraging the synergies of a large public sector bank and the largest pure-play credit card issuer to drive financial inclusion and digital payments.

Shares of Bank of Maharashtra was last trading in BSE at Rs. 54.89 as compared to the previous close of Rs. 54.43. The total number of shares traded during the day was 497910 in over 3423 trades.

The stock hit an intraday high of Rs. 55.48 and intraday low of 54.60. The net turnover during the day was Rs. 27380521.00.

Shares of SBI Cards and Payment Services Limited was last trading in BSE at Rs. 811.80 as compared to the previous close of Rs. 789.15. The total number of shares traded during the day was 16114 in over 1428 trades.

The stock hit an intraday high of Rs. 815.95 and intraday low of 790.95. The net turnover during the day was Rs. 13060483.00.

Source : Equity Bulls

Keywords

BankofMaharashtra INE457A01014 Partnership SBICardsandPaymentServices INE018E01016 BankofMaharashtraSBICard