Oriental Bank has tied up with SBI Cards

By Pradeep Yuvaraj | August 6, 2011

A recent press report said that Oriental Bank of Commerce (OBC) has entered the credit card segment through a tie-up with SBI Cards. The co-branded credit cards, will be both magnetic stripe and chip-based. The cards are to be launched out through OBC branches around Diwali.

Reports said that the bank is one of the late entrants in the credit card segment, but it now has the benefit of latest technology-cards with chip security.  The chip in the credit card will help in the prevention of fraudulent usage due to possible cloning of credit cards.

Reports also said that the memorandum of understanding was signed by Mr. R.M.Sharma, General Manager (Corporate Strategy& Planning), OBC, and Mr. Kadambi Narahari, CEO, SBI Cards and Payments Services Private Limited.

Oriental Bank of Commerce is an India-based bank in Lahore, is one of the renowned public sector banks in India. The Company operates in four segments: treasury operations, corporate/wholesale banking, retail banking and other banking business operations. The bank offers loans such as housing loan, car loan, personal loan, education loan, advances to minority communities – as per sachar committee, list of beneficiaries under agriculture debt waiver and debt relief scheme – 2008.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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