RBL Bank gets 'credit'

RBL Bank is seeing a lot of buzz on its counter today, with volumes rising 3 times and price going up almost 3.5% to an intraday high at Rs.181.20. Its 10% UC for the day is at Rs.192.85.

The Bank announced today morning that it has started issuing credit cards to its new customers on Visa’s payment network.

The launch follows the successful completion of technology integration with the new platform following the agreement between RBL Bank and Visa on July 14,2021.

The Bank, which has a 5% market share in credit cards in India, will leverage its partnership with Visa to offer a wide range of credit cards to a variety of customer segments.

The company said that with this launch, it is confident of meeting its annual plan of issuing 1.2 to 1.4 million credit cards in FY22.