Deal to replace GE Capital as partner in SBI Card likely soon

SBI Card said it had seen 25-30 per cent rise in card spending after demonetisation

A deal to bring in a new partner in SBI Card to replace GE Capital could get sealed in the coming two to three months, according to State Bank of India (SBI) executives.  The card company is a joint venture between SBI and US-based conglomerate GE Capital. The latter plans to exit the venture, as part of a global restructuring activity.
 
SBI had earlier indicated that the process to find a new partner for the card venture was to be completed by September 2016. The bidding and selection has been a complex process, SBI group executives said. 
 
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