Bengaluru, 28th October 2024: Mahindra Finance, a part of the diversified Mahindra Group, has received necessary approvals from the Reserve Bank of India to launch co-branded credit cards in association with RBL Bank, one of India’s leading private sector banks. These co-branded cards will be specifically designed to cater to a broad spectrum of Mahindra Finance’s customer base, offering enhanced benefits, loyalty programs, and milestone rewards.
Raul Rebello, Managing Director & CEO, Mahindra Finance emphasized, “As a preferred financier to emerging India, we continuously endeavour to provide relevant products for our customers. Our first co-branded credit card, being developed in collaboration with RBL Bank, will be designed to meet the aspirational needs of our customers, across geographies in India. Through our 1350 plus branches, healthy customer acquisition across branches and dealerships covering more than 5000 touchpoints, we believe RBL Bank’s expertise and being one of the top card issuers would provide significant synergies”.
Highlighting the significance of this collaboration, Rajeev Ahuja, Executive Director, RBL Bank stated, “The co-branded credit cards with Mahindra Finance represent a significant milestone, combining Mahindra’s legacy of touching lives, dependability, and reliability with RBL Bank’s expertise in the co-branded credit card segment. Our aim is to provide a one-stop solution that offers unmatched benefits across a wide range of categories.”
Through this co-brand partnership Mahindra Finance aims to tap into the growth potential, aligning with the adoption of e-commerce and technological advancements seen even in non-metro locations.
