Poonawalla Fincorp gets RBI approval for co-branded credit card, shares up

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Poonawalla Fincorp Limited’s shares were up by 1.53 per cent after the company secured approval from the Reserve Bank of India (RBI) to issue a co-branded credit card in partnership with IndusInd Bank. The credit card, slated for launch in the next three months, is designed to cater to customers with a favourable credit history. 

Abhay Bhutada, Managing Director of Poonawalla Fincorp, said, “We are confident that this partnership with IndusInd Bank will be a game-changer adding a new vista to our bouquet of new-age financial products for India’s tech-savvy and financially astute customers. We at Poonawalla Fincorp believe in ethical lending with complete transparency and no hidden charges while engaging with our customers. With its fully digital process and unique best-in-class product offerings, we expect to provide an exceptional & seamless customer experience to our existing and potential customers.”

The shares were up by 1.53 per cent to ₹378.15 at 9.33 am on the BSE.