The Hindu Business Line : SBI, GE Money venture offering more products

Mumbai, May 15 State Bank of India and its partner for credit cards, GE Money, are looking to expand their reach in the consumer finance segment by offering more products and cross selling products to the existing customers.

The two have announced plans to jointly offer personal loans and credit insurance through their joint venture SBI Cards & Payment Services Pvt Ltd (SBICPSL), said a press release from the bank.

Mr Diwakar Gupta, a top executive of SBI has been nominated as the CEO of SBICPSL.

SBI Cards, the joint venture between GE and SBI, will continue to operate under two separate joint ventures: SBICPSL, which focuses on the marketing and distribution of SBI Cards, and GE Capital Business Processes Management Services Pvt Ltd.

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