State Bank of India credit card

Now SBI credit card holders enjoy more with Deccan's special fares

Low cost carrier,Deccan in association with State Bank of India has announced its special fixed fare offer called "SBI card Flat Fare" for all SBI credit card holders.

A fixed fare of Rs.499- (Basic fare) will be offered to passengers booking on Deccan using their SBI credit card. Taxes and surcharge,as applicable will be borne by the passenger, Deccan said in a release here today.

The offer is valid only for bookings made through the Deccan call centre (Prefix city code 39008888). Bookings under the offer are on till March 15 and valid for travel from January 15 to March 31.

This offer cannot be combined with any other package/scheme.Limited numbers of tickets are available under the offer and will be offered on a first come first serve basis.

Ramki Sundaram, officiating CEO Deccan, said "Innovation in pricing is a Deccan tradition which helps us continually expand our consumer base. With dynamic pricing having become the norm for airline bookings in India, our offer of a fixed basic fare allows people to hold and book on affordable fares. Given that SBI is India's banking giant with a strong presence in every part of India, our SBI card- Flat fare offer will also help us tap into a wide and varied consumer base. The offer is a value added delight to our passengers".

How to Keep Credit Card Bills Low and Save Your Credit

Some credit card holders pay their bill off every month, and basically use the cards for convenience. Others may find themselves in a bind due to hospital bills or expenses due to operating a business. What ever the reason for the revolving credit card balances, there are things you can do to keep your bills lower.

Of course the first thing to do is pay the bills on time. If you are late, and it is your first time, the late fee could be waived. You will need to call your credit card company and ask though. If you are late, make every effort to pay it as soon as possible. Every negative entry on your credit could cost you. Check out the SBI credit cards for low interest and more cash back on your every purchase.

Some credit card companies might raise your interest rate on your card even if you were not late paying them. In other words, being late on one card could affect the interest rates on all of your other cards.

SBI Bank to invest pension funds in equities

State Bank of India, UTI AMC and Life Insurance Corporation will start investing the corpus of the new pension system (NPS), estimated around Rs 2,000 crore now, in market instruments including 15 per cent in equities from end-June 2008.

SBI Credit Cards are now offering you the great cash back discount on your every purchase. Make your deals today to benefit more n' more.

Three fund managers sponsored by SBI, UTI AMC and LIC will manage the pension corpus in the ratio of 55 per cent, 40 per cent and 5 per cent respectively, said D Swarup, chairman of Pension Fund Regulatory and Development Authority.

"The pension fund managers will start operations latest by June-end, 2008," Swarup said. Besides three fund managers, the PFRDA has appointed National Securities Depository Limited to act as the Central Record Keeping Agency for the system for a fee of Rs 10 lakh per annum to the regulator. "NSDL is expected to start operations by June 1, 2008," he said.

SBI in a soup over chicken in television commercial

Recently, it was Johnson & Johnson (J&J) that got into trouble over dogs and cockatoos. Now it is the turn of State Bank of India (SBI).

Over a chicken.

The government's Animal Welfare Board of India has demanded that the public sector bank pull its widely shown new television commercial that uses a chicken laying golden eggs to sell the benefits of a new SBI credit card.

According to the board, the producers of the advertisement failed to take necessary permissions that are a pre-requisite in India for using live animals in commercials.

To complicate matters for SBI, animal activists are alleging that the bank has not pulled the ad after promising to do so in a 7 November letter written by Roopam Asthana, chief executive of SBI Cards, which is the country's second largest credit card issuer.

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CSB, SBI launch co-branded credit card

Catholic Syrian Bank (CSB) has launched CSB Credit Card, in association with SBI Cards & Payment Services Private Limited. It was launched here on Friday by R. Venkataraman, Chairman of CSB, and Roopam Asthana, Chief Executive Officer of SBI Card.

Mr.Venkataraman said the co-branded product would significantly support the future business growth strategy. It would also enrich the bank's product range to retail banking customers, he said.

Mr. Asthana said the strategic tie-up with CSB would enable the SBI Card to enhance the partnership card programme.

SBI Card is a joint venture between State Bank of India and GE Money.

SBI Card offers 7 innovative easy payment options

SBI Card, a joint venture between SBI and GE Money, and the 2nd largest Credit Card issuer in the country, announces India's first credit card 'Paycash' payment option for its customers through Easy Bill payment outlets in India.

This facility will enable SBI Card customers to make direct cash payment for their outstandings at 3500 available Easy Billl merchant outlets throughout India. This is for the first time, a credit card company has introduced a cash payment option.

Speaking on the initiative, Mr. Roopam Asthana CEO, SBI Cards & Payment Services Pvt Ltd, said, "At SBI Card, it is our constant endeavor to provide greater value proposition to our customers each time. This initiative of making payments easier is yet another step in enhancing customer satisfaction, which is the top priority at SBI Card"

Customers facing problems with SBI credit cards

I have not been receiving the monthly statements regularly of my State Bank of India credit cards since the beginning of this year. Duplicate statements are sent after repeated requests on the helpline to the customer care officer. Late charges are levied for no fault of mine as I cannot make payments without seeing the statements.

Payments for the month of January 2007, February 2007, March 2007 and May 2007 have been made on duplicate statements received after repeated requests on the helpline to the customer care officer.

I have made a payment of Rs 6,079 to a courier of the bank on basis of a duplicate statement and I have been charged for the courier. The payment was made after deducting the late payment charges and finance charges as per advice of the customer care officer.

I have received the statements of June and July 2007 on 19 September. The bills show late charges, and finance charges. The customer care has reversed the late charges but I am told that I have to pay the interest charges.

Questions for CEO, SBI cards & payment services

"SBI and GE Capital Services is the second largest credit card issuer in the country with over 3.5 mil-lion card holders and the considering the ever increasing numbers, the concept of cashless freedom doesn't look impossible." Roopam Asthana, CEO, SBI cards & payment services told in an Interview.

Why hasn't the credit card industry in India witnessed the same success as in the West?

To say that it hasn't taken off would be unfair. But there have been factors such as no credit rating mechanism, lack of infrastructure and the initial conservative attitude among the people which has slowed down the growth. Today, there are only 2.8 cardholders per 100 people even in the top ten cities. So you can see the immense potential that the industry has to offer.

So, is the company focusing only on metro cities?

It isn't so. Those residing in the metros are spoilt for choices. The real growth is in the Tier II and III cities. I don't believe that those in small cities are apprehensive about credit cards. It's not about attitude but opportunity. As a credit card company, we've to break that circle. If tomorrow you have shops in your city which accept credit cards the usage will itself rise.

How do you plan to target the smaller cities? Do you've a road map?

First and foremost we've the legacy of one of our parent company SBI. Our brand is our USP. In any small town of the country you'll find our branch, and that is a big advantage, which no credit card company enjoys. In 2004, we were at 44 locations, today we've our presence in 110 locations, which will soon rise up to 150 by the end of the current fiscal. The third is our sales force, we'll be engaging 10,000 people by the end of June 2008. So in a nutshell we're working on all fronts to make our presence felt.

SBI Ranks 2nd among credit card companies

SBI Cards has quietly zoomed past Citibank to become the second largest credit card company in the country by issuing 2.92 million cards.

SBI Cards has become the second largest card company by July-end and the total number of credit cards issued stands at 2.92 million as on August 15, 2006," SBI Cards CEO Roopam Asthana told the media.

Asthana said on an average SBI Cards, a joint venture between State Bank of India and GE Money - issues 1.3 lakh credit cards every month.

Growing by 60-70 per cent year-on-year, SBI Cards is expected to give a tough fight to ICICI Bank, which is at present the number one credit card issuer at over 5 million.

SBI Cards offered from Exclusive HomeShop 18

HomeShop18 offers for SBI Card users

%u2022 HomeShop18 introduces catalogue marketing initiative

%u2022 Unparalleled convenience of 'anytime shopping'

%u2022 Great products at exclusive prices

%u2022 35 lakh SBI Card holders receive catalogues with their monthly credit card statement

HomeShop18, India's most credible virtual shopping brand from the Network18 Group joins hands with SBI Card, the 2nd largest credit card company in India, to add a whole new dimension to virtual retail. This long-term association offers unparalleled convenience of 'anytime shopping' for the credit card holders, not only giving them an edge, but also prices and propositions they can't resist from the comfort of their homes. HomeShop18 offers quality products to its customers through different channels like TV, e-commerce and catalogues. With this alliance, 35,00,000 SBI Card holders will receive a catalogue that offers a range of exciting value-added products.

The catalogue offers product from various categories like electronics, jewellery, home and kitchen, lifestyle, kids and toys and much more. HomeShop18 has also created sbi card on - their website, especially for the card holders, so that they can login directly and access the catalogue online.

Plastic Money hard to Repay

That Indians are increasingly living off plastic money is a given. But having spent money which is not theirs, many are finding it hard to repay it. The default rate on credit cards is the highest across different loan categories in the country.

The rate for credit cards has risen from 7-9 % of total outstanding payments last year to about 10-12 % this year. In contrast, the default rate is 3-4 % for personal loans, 2% for auto and two-wheeler loans and is less than 1% for mortgage loans.

Experts say with growing daily expenses and rising EMIs on existing loans, the number of customers defaulting on credit card payments has risen significantly in the past one year. "Customers are over-leveraging themselves due to the rising cost of daily expenses and the increase in interest rates making their existing loans costlier. However, this is a temporary phase and delinquency rates will fall after a few quarters as the entire industry goes through a correction," said SBI Card CEO Roopam Asthana.

SBI Cards' ratings reflect strong parental support - CRISIL

Indian rating agency Crisil, a division of Standard & Poor's (NYSE:MHP) , said its ratings on SBI Cards & Payment Services Pvt Ltds debt programmes reflect the support the company gets from its joint owners, State Bank of India and GE (NYSE:GE) Capital Corp.

The ratings agency reaffirmed its 'AAA' rating on SBI Cards 1.25 bln rupees lower tier II bond programme. It also enhanced its 'P1+' rating on the company's 10 bln rupees short term debt programme to 15 bln rupees.Crisil has a 'AAA' rating on both SBI and GE Capital with a stable outlook.

The ratings agency said the stable outlook reflects its belief that this support, coupled with the company's healthy market position and good resources profile would sustain its credit profile by more than offsetting the challenge of high delinquency levels faced in this asset class.

SBI establishment day celebrated

Agriculture development branch of SBI Sehore has adopted village Pilukhedi. State Bank of India in this 'Apna gaon' has connected cent percent families with the bank under different saving and loan facilities. In this way the bank has ensured cent percent financial inclusion in this village. On this auspices the bank establishment day of this year was held at village Pilukhedi through a unique programme.

The programme was presided over by SBI Chief General Manager Renu Challu of Bhopal division.

DGM Bhopal division, Salil Saran and area manager Sukomal Chakraborty also addressed to the farmers.

SBI widens credit card portfolio

SBI Cards, a joint venture between State Bank of India and GE Money, on Thursday announced its entry into the premium card segment with the launch of the SBI Platinum Card in association with Visa International. The card will offer unique benefits and services aimed at meeting the lifestyle needs of customers.

SBI Cards also announced the launch of the SBI Gold and More Card scheme in association with Master Card Worldwide. This new scheme will offer assured two per cent cash back on any purchase at departmental stores, groceries, restaurants, utility bill payments and waiver of the 2.5 per cent charge on fuel purchase at any petrol pump in any city. The SBI Platinum Card allows the members to experience exclusive bouquet of offers and benefits with no joining and annual fees.

SBI Credit Card holders to enjoy cash back with Ezeego1.com

SBI cards, India's leading credit card issuer today announced its tie-up with the popular & dynamic travel portalEzeego1, offering its customers a flat 25% cash back for booking their travel on all Indian flights.

This special offer comes with no restrictions on Indian flights and is valid on All Sectors, All Flights & All Timings. Cardholders can book tickets for any date of travel, subject to availability. The offer is valid for domestic sectors flown by Indian and for bookings done before 30th September, 2007 through online booking on www.ezeego1.com or calling 1800220177 or 9867565900.

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