Despite the downfall in the card industry, SBI Cards, this is a joint venture between State Bank of India and the GE capital, introduced Signature Cards for high net worth individuals and affluent customer segment.
The annual fee for the availability of the card is Rs.5, 000 on which customers will enjoy gift vouchers of up to Rs. 5, 000 or will be entitled for air ticket at the time of enrolment.
“With the SBI Signature Card, we now have an enhanced offering for the affluent customer segment. SBI Signature Card is another product innovation from our side and comes with a distinct value proposition,” Mr. Narahari, CEO, SBI Cards said.
The company is expecting an increase of at least one million cards by 2014 in addition to current size of 2.2 million cards with asset size – Rs. 2,300 crore.
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