Federal Bank and South Indian Bank have stopped issuing co-branded credit cards following regulatory changes in credit card rules.

Banking & Finance

Federal Bank and South Indian Bank have stopped issuing co-branded credit cards following regulatory changes in credit card rules. The Reserve Bank of India has made amendments in master direction for credit and debit card issuance and conduct rules. Federal Bank has three co-branded credit cards with partnerships with OneCard Scapia Technology Pvt Ltd and FI Brand Pvt Ltd. Pursuant to a letter from Reserve Bank of India, dated 12 March 2024, RBI have stopped issuance of new co-branded credit cards.


      Both Federal Bank and South Indian Bank said they would continue to service the existing customers who currently hold co-branded credit cards issued by them.

     

     

 

     


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