At a time when banks are going slow on issuing credit cards due to rise in defaults, Peerless General Finance & Investment Company Ltd has launched a co-branded credit card with ICICI Bank.
Peerless Smart Money, under which the credit cards business will operate, already sells life insurance, general insurance and mutual funds.
Speaking on a press conference on the occasion of the launch of credit cards S K Roy, managing director, Peerless General Finance, said, "Through Peerless Smart Money, we seek to ensure total customer satisfaction."
Initially, the card will be distributed through 76 branches of the company across the country.
However, the company aspired to launch its own insurance and mutual funds products soon, said Ray.
Like all other credit cards, standard offers like balance transfer and utility bill payment services will be offered through the cards.
Speaking on the occasion, Jayanta Roy, director, (corporate planning and strategy), of Peerless Finance, said, by 2010, the Peerless aimed to substantially beef up its operations.
