Public sector lender Oriental Bank of Commerce has made an entry into the credit card segment of the country by way of partnering with SBI Cards.
The cards, thus of co-branded nature will reach out to customers in Diwali time through branches of OBC.
The cards will have both magnetic stripe as well as chip based nature.
The latest technology being adopted will overcome the barrier of the bank being a late entrant into the segment, expressed CMD of the bank, Mr Nagesh Pydah.
A memorandum of understanding (MoU) has been signed by the two entities in this regard.
The MoU 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.