Understanding SBI Cards: Ownership and Management

SBI Cards is a well-known entity in the financial sector and is often a source of confusion for many. Many wonder whether SBI Cards is a part of the State Bank of India (SBI) or is it a separate entity. This blog post aims to clarify any doubts a reader might have regarding the ownership and management of SBI Cards.

Ownership of SBI Cards

Referred to as a Joint Venture, SBI Cards is not directly owned by the SBI. However, SBI is the largest shareholder in the entity, which means they hold a significant stake in the company. It is established as a standalone entity, functioning separately from the SBI.

The journey of SBI Cards began as a joint venture between the State Bank of India (SBI) and GE Capital. Their collaboration was aimed at offering financial services, primarily credit cards to the masses. Over the years, the ownership has shifted, and currently, SBI Cards is managed by SBI and CA Rover Holdings. This shift in management has resulted in changes in the financial services they provide, making SBI Cards a more independent player in the market.

Debit Cards Offered by SBI Cards

A question often asked is whether the debit cards offered by SBI Cards are a part of the SBI bank. The answer is generally yes, as SBI Cards and SBI share a close relationship. However, it's important to note that SBI Cards primarily focuses on credit cards. In the context of debit cards, they offer a variety of options that align with the needs of their customers.

Credit Cards Managed by SBI Cards

When it comes to credit cards, SBI Cards is directly involved in managing the services. SBI Cards not only processes the transactions but also manages the card operations. However, it's a partnership as the payment services are handled by Payment Services Pvt. Ltd., a subsidiary of SBI. This arrangement allows for a seamless approach to credit card management while ensuring that both SBI Cards and SBI can provide high-quality services to their customers.

Key Points to Remember

SBI Cards is a Joint Venture with significant ownership held by SBI. It is managed by SBI and CA Rover Holdings. Debit cards offered by SBI Cards are associated with SBI. Credit cards are managed by SBI Cards, with payment services handled by a subsidiary of SBI.

In summary, SBI Cards stands as a separate yet closely associated entity with the SBI bank. While the management and services differ, the close relationship ensures a cohesive and reliable service for their customers. SBI Cards offers a range of credit and debit card options, all of which are managed to provide the best possible experience to their users. Stay informed about the latest in financial services and explore the range of options available with SBI Cards today.