RBL-Bajaj Finance Co-Branded Credit Cards To Stop: What Happens To Existing Customers?

RBL Bank and Bajaj Finance have decided to stop issuing new co-branded credit cards, following discussions over the past month. Both companies agreed that the synergies from the partnership had changed over time, leading to this decision. In an exchange filing, RBL Bank said that the decision to stop issuing co-branded credit cards with Bajaj Finance was in line with its plan to build partnerships with NBFCs such as Mahindra & Mahindra Finance Limited, TVS Finance Limited as well as consumer brands like IOC, IRCTC, among others.

RBL-Bajaj Finance Co-Branded Cards To Stop: Impact on Existing Cardholders

According to the bank statement, the current cardholders will not be affected by this change. Their co-branded credit cards will continue to function as usual, and upon renewal, they will be reissued as RBL Bank-branded cards.

* RBL - BFL co-brand cards issued till date will continue to operate as usual without any
change
* Cardholders of RBL - BFL co-branded credit cards will continue to be the customers
of RBL Bank as they were hitherto and can continue to use their cards on the same
terms and conditions as at the time of the issuance of such cards
* Customers will enjoy the same benefits, rewards, offers etc. associated with their
existing cards. Upon renewal, these cards will be reissued as RBL Bank branded credit
cards
* RBL Bank will continue to service the existing portfolio of approximately 3.4 million cobrand credit cards

RBL Bank Share Price Today

RBL Bank's shares closed 1.6% lower at ₹154.98.