SBICARD

SBI Cards and Payment Services Limited, established in 1998 as a joint venture between the State Bank of India (SBI) and GE Capital, is headquartered in Gurgaon, Haryana. It operates as a non-deposit accepting systemically important nonbanking financial company focused on issuing credit cards to consumers in India. The company's portfolio includes super-premium, core, and co-branded credit cards. SBI Cards is the second-largest credit card issuer in India by both cards-in-force and total spends. It benefits from an extensive distribution network and a strategic relationship with the State Bank of India, which provides access to a broad customer base. After GE Capital's exit, SBI remains the majority shareholder, and the company is a subsidiary of the State Bank of India.