India’s largest private sector lender ICICI Bank on Tuesday launched a platinum credit card christened as Rubyx in partnership with American Express, a company engaged in the credit card and travel services and MasterCard, the payment gateway provider. The new... (Continue reading)
The number of active credit cards in India has dropped by almost 35 percent in the last three years as banks withdrew cards from defaulters and became cautious in issuing new ones, an industry survey revealed. The number of active... (Continue reading)
Transactions worth Rs 7,191.11 crore were carried out using credit cards in the country in June, 2011, translating into a growth of 29.8 per cent over the same month last year. Credit card transactions during June, 2010, amounted to Rs... (Continue reading)
The Reserve Bank of India has asked banks to put in place a system for providing online alerts for all card transactions irrespective of amount. Until now banks had to send online alerts to the cardholders for only ‘Card Not... (Continue reading)
Private sector lender IndusInd Bank is in the race to buy Deutsche Bank’s credit card business in India and hopes to finalise a deal in the next few weeks. IndusInd Bank, along with Axis Bank, Dhanlaxmi Bank and Karnataka Bank,... (Continue reading)
After almost two years of planning, the National Payments Corporation has at last finalised the proposed unique India Card which once commercially launched would be an domestic alternative to the global real-time payment processing firms like Visa and MasterCard .... (Continue reading)
For the first time in India, movie enthusiasts will now be able to draw a more significant and appealing value from their everyday spends by availing free PVR tickets every month through the PVR Kotak Credit Card PVR Ltd., the... (Continue reading)
Private sector lender, Kotak Mahindra Bank is targetting a 25-30% increase in revenue from its credit card business in the upcoming two years time, informed a top official of the bank. “We are quite bullish about the retail business, especially... (Continue reading)
Credit card grievances relating to overcharging and issuance of unsolicited cards accounted for bulk of the complaints received by the banking ombudsman during 2009-10. The banking ombudsman has received 18,810 credit card complaints, which accounted for 24 per cent of... (Continue reading)
The country’s largest private sector lender ICICI Bank today introduced cash withdrawal facility for customers for withdrawing up to Rs 1000 at point of sale (PoS) terminals, with the option to buy or not buy at merchant outlets. ICICI is... (Continue reading)