Highlights
The bank is looking to launch the product in the next 3-6 months, DBS Bank India Executive Director (Head-National Distribution) Bharath Mani said here.
"We are targeting mostly customers in Tier II and Tier III cities for this product," he said, adding that the bank will launch proprietary credit cards by June.
The proposed credit card would be targeted at affluent and super-affluent segments, he said.
Currently, the bank has a co-branded credit card with Bajaj Finserv and a customer base of 2,00,000.
Meanwhile, DBS Bank India has announced a partnership with IndiaFilings, a leading platform for startups and small businesses in India.
The partnership will enable the bank to provide end-to-end financial services support to new companies and startups through a co-branded portal.
In a statement, the bank said the partnership reaffirms its commitment to serving startups profitably while finding new ways to deliver value.
A common challenge faced by new businesses in India includes the need for more awareness on incorporation, GST registration, setting up of financial management and operations-related infrastructure, building the brand value proposition, and accessing the ecosystem comprising investors and tech partners, it said.
Through the co-branded portal, DBS Bank India and IndiaFilings will provide a free company incorporation process to startups along with a cashback of up to 100 per cent on their incorporation costs of up to Rs 8,000.
As featured in Business Standard
Asia’s Safest Bank, 2009 – 2024, Global Finance
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World’s Best Bank 2021, Euromoney
India’s Best International Bank 2021, Asiamoney
World’s Best Banks - #1 in India 2021, Forbes
World’s Safest Commercial Bank 2021, Global Finance
