Mumbai, Nov 29 (PTI) RBL Bank and Bajaj Finance on Friday announced an end of co-branded credit card and the bank stopped issuing any such fresh cards.

Over 34 lakh users of the co-branded credit cards will continue to be served by the private sector lender and enjoy all the benefits as listed earlier, as per an official statement.

Also Read | RRB RPF SI Admit Card 2024: Hall Ticket for Sub-Inspector December 2 Examination Released at rrbapply.gov.in, Know Steps To Download.

RBL Bank said it has reduced the dependence on the origination of co-brand cards with BFL (Bajaj Finance Ltd) over the last one year from 1,26,000 in September 2023 to 37,000 cards in September 2024.

"This decision is in line with the Bank's plan to build a diverse range of partnerships including with NBFCs such as Mahindra & Mahindra Finance Limited, TVS Finance Limited as well as consumer brands like IOC, IRCTC," a statement from the bank, which is the fifth largest issuer of credit cards, said.

Also Read | CAT 2024 Response Sheet and Answer Key Released At iimcat.ac.in, Know Steps to Download.

The statement added that it remains focused on growing its credit card business as a prominent customer acquisition engine and added that the partnership has been one of the largest and most rewarding co-brand relationships in the country.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)