RBL Bank extends credit card partnership with Bajaj Finance for 5 years

“RBL Bank announced that it has extended its co-branded credit card collaboration with Bajaj Finance ltd for a period of 5 years up to Dec 2026,” private lender said in a regulatory filing.

Shares of RBL Bank plunged 18.10% to close at ₹141.6 apiece on BSE on Monday. This scrip also hit its 52-week low of ₹132.35 on concerns of the lender’s financial position.

Amid concerns over the health of RBL Bank, the RBI had earlier today assured depositors and stakeholders that the private sector lender is well capitalized and that its financial position is satisfactory even as shares of the bank witnessed a sell off”.

In a slew of developments in the last few days, RBI had appointed an additional director to RBL Bank’s board while the lender’s MD & CEO Vishwavir Ahuja went on leave.

Against this backdrop, newly appointed chief Rajeev Ahuja, said that the financial position of the bank was strong and sudden change at the top level was not related to any concerns.

As concerns persisted, RBI on Monday said there has been speculation related RBL Bank in certain quarters which appears to be rising from recent events surrounding the bank.

The Central Bank said, “There is no need for depositors and other stakeholders to react to the speculative reports”.