This lifestyle-focused credit card would offer a holistic and rewarding shopping experience to customers across segments with varied spending needs. The card enables cardholders to unlock rewards and benefits while transacting at Reliance Retail’s extensive and diverse ecosystem. Additionally, Reliance SBI Card users can also take advantage of offers rolled out by SBI Card on an ongoing basis.

This alliance aims to leverage the extensive network of SBI Card with the vast consumer reach and unique retail proposition of Reliance Retail to bring a spectrum of exclusive rewards as well as special spends-based milestone rewards and Reliance Retail vouchers for transacting across the Reliance Retail network.

Abhijit Chakravorty, MD & CEO, SBI Card, said, “We are delighted to partner with Reliance Retail that has redefined India’s organised retail. This partnership is a result of our shared focus on customer centricity and commitment to provide world-class customer experience.

At SBI Card, we have always believed in delivering products to our customers that offer strong value while addressing their lifestyle needs. Reliance SBI Card has been developed as a holistic product that is relevant for major consumer segments. It is a powerful addition to our robust co-brand portfolio, and we expect this to become a popular credit card given the universal usage avenues that it offers.”

SBI Cards and Payment Services is a non-banking financial company that offers extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel & fuel, and banking partnerships cards along with corporate cards covering all major cardholders' segments in terms of income profile and lifestyle. The brand has a wide base of over 18 MM+ cards in force as of Q1 FY24.

The company had reported 14.71% rise in net profit to Rs 602.98 crore on 22.24% increase in total income to Rs 4,221.40 crore in Q2 FY24 over Q2 FY23.

The scrip rose 0.54% to currently trade at Rs 750.60 on the BSE.