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In a recent development, Poonawalla Fincorp, a non-banking financial company (NBFC), has received approval from the Reserve Bank of India (RBI) to issue a co-branded credit card. The announcement was made on Tuesday.
The RBI’s approval allows Poonawalla Fincorp to venture into the flexible retail credit market, a sector that continues to grow in India. With this move, the company aims to expand its product portfolio and further cater to the needs of its customers.
Details about the co-branded credit card, such as the partner entity and specific benefits, are yet to be announced. However, with the RBI’s nod, Poonawalla Fincorp is expected to roll out this new offering soon.
This development marks a significant step for Poonawalla Fincorp as it continues to broaden its financial services in India’s evolving market landscape.
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This story originally appeared on Investing
