RBL Bank and DMI Finance Private Limited (“DMI”), part of the DMI Group, announced a strategic agreement to provide co-branded credit cards to DMI Finance’s existing customers.
This collaboration intends to increase credit card access to clients in India’s metro and non-metro cities by combining RBL Bank’s extensive credit card experience with DMI’s proven track record of enabling digital financial inclusion at scale. The credit card will offer spend-driven perks such as expedited reward points, no-cost EMI alternatives, and discounts at popular merchants.
Bikram Singh Yadav, Head – Credit Cards, RBL Bank said, “RBL Bank has a strong presence in the credit cards space with over 5.3 million cards in force. Our alliance with DMI Finance allows us to expand our scale and take our financial products to the untapped consumer base. We aim to introduce highly innovative and value-centric products backed by a seamless digital onboarding experience.”
Shivashish Chatterjee, Co-founder of the DMI Group said, “Our pan-India footprint that covers more than 95% of pin codes and enables DMI to process over 30 million credit applications every year, when combined with RBL Bank’s credit card expertise, presents a compelling offering for underserved communities across India. We remain focused on our core mission to deepen access to sustainable credit and enable economic mobility for millions of aspiring Indians.”
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Leveraging DMI Finance’s 25 million customer base, this partnership will enhance financial inclusion in India by bringing credit card access to underserved, creditworthy individuals across the country.
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