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HDFC Bank partnered with Paytm

Published on September 21, 2021
Current Context: India’s major private sector bank, HDFC Bank has entered into a partnership with Paytm.
HDFC Bank partnered with Paytm
  • They have partnered to launch co-branded credit cards on the Visa platform for business holders, millennials, and merchants.
  • The HDFC Bank-Paytm co-branded credit cards will be launched in October 2021.
  • It will be having features like monthly installments (EMIs), and buy now pay later (BNPL) and the other entire features will be added to the card by Dec 2021.
  • It will offer best-in-class rewards and cashback for users.
  • Due to this partnership, HDFC Bank will be able to gain its lost market share in the credit card area as the bank was banned by RBI for about 8 months from performing digital offering businesses.
  • Static Part: 
    • HQ of HDFC Bank: Mumbai
    • MD and CEO of HDFC Bank: Sashidhar Jagdishan
    • Tagline of HDFC Bank: We understand your world
    • HQ of Paytm: Noida, UP
    • CEO of Paytm: Vijay Shekhar Sharma

Question: 

Q.1 Which bank partnered with Paytm to launch co-branded credit cards which will be launched in October 2021?
a. HDFC Bank
b. State Bank of India
c. Punjab National Bank 
d. Kotak Mahindra Bank
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