BANKING AFFAIRS

Detailed explanation-1: -SBI Cards & Payment Services (SBI Card), the country’s second largest credit card issuer, on Tuesday said that Ashwini Kumar Tewari has taken over as the company’s new Managing Director and Chief Executive Officer from August 1.

Detailed explanation-2: -SBI Cards and Payment Services said that its board approved re-appointment of Rama Mohan Rao Amara as managing director (MD) & chief executive officer (CEO) of the company for a further period of one year effective from 30 January 2023.

Detailed explanation-3: -Prior to this appointment, Amara, who started his banking career with SBI in 1991 as a probationary officer, was the Chief General Manager of SBI Bhopal circle. He had earlier served as the Chief General Manager, Financial Control at SBI Corporate Centre in Mumbai.

Detailed explanation-4: -Public sector bank Punjab and Sind Bank (PSB) has partnered with SBI Card to launch co-brand credit cards for the bank’s customers. PSB has also entered the credit card market as a new product segment in its portfolio as a result of this collaboration.

Detailed explanation-5: -SBI Cards and Payment Services on Thursday announced that it has partnered with Punjab & Sind Bank to launch co-brand credit cards for the bank’s customers. The company said that the collaboration also marks the introduction of ‘credit cards’ as a new product segment under the bank’s portfolio.