Lic In Talks With Capital One For Credit Card Foray

Insurance behemoth plans to charge 12% interest

Life Insurance Corporation of India (LIC) is in talks with one of the largest diversified financial companies in the world, Capital One Financial of the US, for launching a credit-cum-debit card in India.

Capital One is a Fortune 500 company with a turnover of $59.2 billion and a customer base of 46.4 million.