SBI Card

SBI Credit Card

SBI Unwilling to Investigate Fraudulent Withdrawals / Charges on Debit Card

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SBI Debit Card FraudEight months ago we alerted you all about the massive Credit Card Fraud that had hit Indian users of Plastic Money. HDFC Bank the Largest Issuer took concrete steps to issue cards with EMV complaint Chips followed by ICICI going ahead and launching the most secured credit card – CodeSecure. However, Nationalized bank SBI has done very little to protect its consumer interests. A reader of this website [65450.1.2013] writes to us as following,

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SBI Smart Payout Card for Aam Aadmi and UnBanked

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SBI Smart PayOut CardSensing an Opportunity in Getting the UnBanked in India to use Banking Services, SBI introduced the Smart Payout Card in the Pre-Paid segment especially targeting Blue Colored Workers who have no Bank accounts.

Features of the SBI Smart Payout Card

  • Employers can give to any of their employees or contract workers, labors or managers managing small tasks
  • A Maximum Withdrawal Limit of Rs 25,000 per month
  • The Card can be re-filled with a maximum amount of Rs 10,000
  • Card can be used to Withdraw cash in ATM

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SBI to Launch Exclusive SME Credit Cards in India

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In July, SBI Cards a JV of India’s Largest Bank the SBI and GE Capital launched Corporate Credit Cards. Taking a step further in the world of business, SBI has announced that it will very soon launch SBI Cards specifically designed to Indian SMEs. The reason for venturing into SME space could be that SBI was able to reach 500 Corporate customers and has now increased its target to 2,000 by the end of next fiscal.

SBI Cards, CEO said,

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How to use SBI Click2Card + Who Should Apply using the Online Application ?

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Earlier this month we covered SBI’s Plans on how to expand the Retail Credit Card portfolio. In continuation of the same strategy, SBI Cards has launched Click2Card Online Credit Card Application facility for prospective credit card consumers.

What is Click2Card e-Application ?
Like other banks, SBI wants to take the process of application and approval of credit cards online for customer convenience. Of-course, Paper-work like PAN Card, Know Your Customer will follow. The advantage here is if you are a high profile customer with good credit track record, chances are high that your application will be approved online. Currently you can apply online for any of the following cards, [Eligibility is not prescribed by SBI, we are doing it on our experience to choose the right one]

Read moreHow to use SBI Click2Card + Who Should Apply using the Online Application ?

HDFC + SBI Gets Aggressive on Credit Cards – SBI to Add 1 Mn Customers

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HDFC Bank, is making most money from CASA & Retail Operations is extremely conservative in Handing out Credit Cards to customers and yet ranks at the top as Largest Issuer of Credit Cards in India with 5.7 Mn Credit Card Accounts with a net addition of 196,000 in June-12 Quarter. SBI Cards a JV of SBI and GE managed to add 96,000 accounts in June-12 quarter and the management is upbeat about Credit Card business as it wants to add another 900,000 accounts within the next 18 months.

SBI is witnessing growth in segments where the Annual Fees is low. It is pushing Platinum & Signature cards to HNIs / Corporates where value proposition is high.

SBI-GE Cards plan to issue around 50,000 cards

Read moreHDFC + SBI Gets Aggressive on Credit Cards – SBI to Add 1 Mn Customers

Tata’s Launch Platinum, Titanium and Corporate Credit Card

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Tata Group Company – Tata Capital in association with SBI Cards has launched 3 new credit cards to cater to the
affluent Indian and SME / Corporate segment. SBI Cards a JV of SBI and GE will issue and service these cards, while the Tata’s will be responsible for Branding and Marketing.

Tata Platinum and Tata Titanium Cards are targeted at empowering the affluent Indian with high purchasing power. These cards offer upto 6% cash back on certain purchases at select Tata establishments and upto 3x reward points for shopping departmental stores, dining, groceries and also international spends.

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