Page 4 - Sbi Card

SBI Card plans to raise Rs 3,000 cr from debentures to fund business growth

SBI Card on Tuesday said it plans to raise up to Rs 3,000 crore by issuing debentures to fund business growth. The decision to consider and approve the proposal for raising funds through the issuance of non-convertible debentures (NCDs) aggregating to Rs 3,000 crore would be taken in June 5 board meeting, SBI Card said in a regulatory filing. This fundraising would be done through private placement in one or more tranches over a period of time, it added.

Paytm partners with SBI Card, NPCI to launch co-branded RuPay credit cards

Payments and financial services company Paytm on Thursday announced that it has partnered with SBI Card to launch Paytm SBI Card on the RuPay network. The Paytm and SBI Card partnership, which began in 2020, is now expanding with the addition of National Payments Corporation of India's RuPay, as all three home-grown brands join forces to further drive the growth of inclusive, digital-first financial services in the country. Paytm founder and CEO Vijay Shekhar Sharma told reporters that India is at the cusp of the next payments revolution where credit will become the mainstream payment choice. "Together with SBI Card, Paytm RuPay credit card will be a great choice for consumers. Our users are already savvy on QR code-based payments and with RuPay credit cards working on UPI QR codes, transactions through mobile phones will get a further boost, marking a new era in digital payments," he added. Cardholders of either variant will be entitled to 2 per cent cashback on all Paytm ecosyste

Paytm partners with SBI Card and NPCI to launch Paytm SBI Card on RuPay

Earlier this year, the Reserve Bank of India allowed users to link RuPay credit cards to the United Payments Interface

Brokerages share mixed views on SBI Cards and Payment Services

While cost of funds and credit costs are seen rising, growth in business is estimated to be good

Stocks to Watch Today: Adani Group, UltraTech, Auto, Sugar, ONGC, Blue Star

Stocks to Watch: On the earnings front, Ambuja Cements, Adani Total Gas, PSB, Tata Steel and Uco Bank are likely to be on investors radar on Tuesday.

SBI Card Q4 net up 3% to Rs 596 cr on rise in finance, operating costs

Impairment losses and bad debts expenses increased by 60 per cent at Rs 630 crore in Q4 against Rs 393 crore in the same period a year ago

Top card cos to go live with UPI-linked RuPay credit card feature by June

The feature seeks to include 50 million UPI merchants in the formal credit economy and drive consumption in a big way

Stocks to Watch: Maruti, TVS Motor, Coffee Day, Indus Towers, SBI Card, IOC

Stocks to Watch: Bajaj Auto, Cipla, Dr.Reddy's, Tata Elxsi and Tata Motors are some of the prominent companies to announce Q3 results on Wednesday.

SBI Card Q3 profit rises 32% to Rs 509 crore, GNPA declines to 2.22%

SBI Cards and Payment Services Ltd on Tuesday reported a 32 per cent rise in its December quarter net profit at Rs 509 crore. The pure-play credit card company, promoted by SBI, had posted a net profit of Rs 386 crore during the corresponding period of the previous financial year. The company's total income grew marginally to Rs 3,656 crore during October-December 2020, against Rs 3,140 crore in the year-ago period, it said in a regulatory filing. Total Operating cost increased by 15 per cent at Rs 1,974 crore for the third quarter of FY23 from Rs 1,719 crore in FY22, it said. Its gross non-performing assets (NPA) declined to 2.22 per cent during the quarter under review as against 2.40 per cent a year ago. The net NPA too eased to 0.80 per cent from 0.83 per cent at the end of December quarter of previous financial year. As a result, impairment losses and bad debts expenses decreased by 15 per cent at Rs 533 crore from Rs 625 crore in FY22.

Sensex, Nifty50 end flat in a wobbly trade; Tata Motors, Maruti surge 3%

CLOSING BELL: Broader markets, too, turned tepid as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.3 per cent

Credit card spends drop sequentially as festive season draws to close

Monthly spending is more than Rs 1 trn again, led by the rising share of e-commerce transactions

Credit card base of major issuers erodes in Q2 over RBI's norms

SBI Card was exception as gains card base, market share

Analysts cut earnings estimate, target price on SBI Card post weak Q2 show

SBI Card has underperformed its peers amid company-specific/sector issues pertaining to market share, revolver share, and merchant discount rate (MDR)-related challenges

Stocks to watch: Maruti, SpiceJet, SBI Card, Indus Towers, Tata Chemicals

Stocks to watch today: Maruti Suzuki, Vedanta will report the July-September quarter (Q2FY23) results on Friday, October 28; SBI Card reported 52 per cent YoY jump in net profit Rs 526 crore in Q2FY23

Credit card spends touch record high of Rs 1.22 trillion in September

Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year

Pixel 7 series: Guided frame to Unblur, details of Google's camera upgrades

Powered by Tensor G2 processor, the Pixel 7 and Pixel 7 Pro are priced at Rs 59,999 and Rs 84,999, respectively. The smartphones go on sale in India from October 13

Active credit cards drop 2.3 million in August over new RBI norms

Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month

Players ready for migration as card-on-file tokenisation deadline nears

Tokenisation is the replacement of an actual or clear card number with an alternative code called the "token"

SBI Card net profit more than doubles to Rs 627 crore in June quarter

SBI card shares of the lender were trading 4.2 per cent higher than the previous day's close at Rs 926.1

Explained: How 2% MDR on RuPay-UPI may affect credit card industry

According to analysts, SBI Card and Paytm stand to gain the most if RBI agrees to levy 2% merchant discount rate (MDR) on RuPay-based credit cards linked to UPI