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Aditya Birla Finance and AU Small Finance Bank partner to launch a co-branded credit card
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Aditya Birla Finance and AU Small Finance Bank have partnered to launch a co-branded credit card even as the Reserve Bank of India tightened the co-branded card rules.
The banking regulator earlier in the year said that branding partners for credit cards cannot access customer data or engage in any transaction after the card is initially issued. The RBI rule is focused on increased scrutiny especially on the partnerships between banks and fintechs firms.
The Aditya Birla and AU co-branded card is linked to Visa and RuPay payment networks and will be available in four variants.
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