Bank of Maharashtra has informed the Exchange about Intimation under Regulation 30 and 51 of SEBI (LODR) Regulations, 2015- Bank of Maharashtra and SBI Card Forms Partnership, launch co-branded Credit Card
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Bank of Maharashtra has partnered with SBI Card, India's largest pure-play credit card issuer, to launch co-branded credit cards under three variants: ELITE, PRIME, and SimplySAVE SBI Card. The cards will be available on both RuPay and VISA platforms and can be applied for through Bank of Maharashtra branches. Benefits include reward points on dining, groceries, and shopping, fuel surcharge waivers, airport lounge access, and milestone-based rewards such as gift vouchers worth up to ₹12,500 annually on the ELITE variant. The partnership combines Bank of Maharashtra's extensive public sector reach with SBI Card's digital-first credit card expertise to drive financial inclusion and digital payments.
This partnership expands Bank of Maharashtra's retail product portfolio and creates a new fee-based income stream without major capital investment, while giving SBI Card access to a wider public sector customer base. For shareholders, it signals the bank's focus on digital growth and customer engagement, though it is unlikely to cause an immediate sharp stock movement.