The company envisages to launch this credit card within three months. This partnership will enable Poonawalla Fincorp to usher in a new age of flexible and versatile retail credit.

Abhay Bhutada, managing director, Poonawalla Fincorp, said, “We are confident that this partnership with IndusInd Bank will be a game-changer adding a new vista to our bouquet of new-age financial products for India's tech-savvy and financially astute customers.”

Poonawalla Fincorp has a diversified product offering in consumer and MSME finance including personal loans, loans to professionals, business loans, consumer loans, loan against property, pre-owned car loans, supply chain finance, machinery, and medical equipment loans.

The NBFC's standalone net profit surged 61.9% to Rs 200.23 crore on 66.03% jump in total income to Rs 712.33 crore in Q1 FY24 over Q1 FY23.