LIC credit card launch still on by year-end

I had posted earlier that that LIC with its joint venture partner GE Money would launch its credit card operation by September. However, after various speculations on will they or wont they it looks like they finally will launch their credit card business by the year end.

Just yesterday I posted that SBI who again is partnered with GE Money in the credit card business posted a loss of 186.61 crores. It remains to be seen how this venture does. The reason for the delay in launch is because of LIC’s concerns of GE’s partnership with SBI. It appears that they have “sorted” that issue (conflict of interest) out now.

There are other issues that still need to be sorted out before the launch, let’s hope they do it before the year-end.

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