India’s first women oriented Bhartiya Mahila Bank and Country largest lending bank State bank of India planned to launch a credit card in partnership. This is the first credit card of the BMB. For the first time any state owned bank is assisting white label credit cards.
The entire task related to cards like issuing cards, processing them will be carried out by SBI, but they will be labeled as BMB card. Bhartiya mahila bank will use them for their customers and does not need to spend on infrastructure. SBI will issue them as white label cards. In White label cards the brand of the issuer (SBI) is not present.
Chairman and Managing director of the bank reported that the card is specially designed for the women. There are many working women who do not have credit cards. With the help of credit bank is trying to help its customers. In the beginning bank will launch two cards – gold and platinum.