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SBI Focuses on Existing Customers to Sell Credit Cards
September 07, 2017
Observing a high growth in its card business segment after the demonetization, public sector State Bank of India is now planning to tap its own customer base to sell new credit cards. Currently, only about 35% of the SBI bank account holders have credit cards.
SBI Cards, the child company through which the bank sells its cards, has signed a tripartite agreement with credit rating agency CIBIL and SBI Bank itself to offer pre-approved credit cards to eligible customers.
According to RBI data, the total number of credit card transactions have almost quadrupled after the note-ban as digital payments have gained popularity.