RBL Bank, IOCL launch co-branded credit card

Leh, Sep 07: RBL Bank, one of India’s leading private sector banks, in collaboration with Indian Oil Corporation Limited (IOCL), a major player in the energy sector, has launched a co-branded credit card.

A statement said that this strategic partnership is designed to offer cardholders attractive rewards and benefits, including the potential to earn up to 250 litres of free petrol annually. The new card allows customers to manage their finances and fuel purchases seamlessly through a single platform, earning valuable reward points on every transaction.

The launch event was uniquely marked by a bike ride from Chandigarh to Leh-Ladakh, covering a distance of 750 km, symbolising the theme of "chasing new horizons without worrying about fuel charges." The credit card was officially unveiled at the end of the ride in Leh.

Speaking at the launch, Bikram Yadav, Head of Credit Cards at RBL Bank, said, “The rise in per capita disposable income in India has led to an increase in the number of vehicle owners. Fuel expenses have become a significant part of the monthly expenditures for Indian consumers, and they represent a growing category of card spending in our portfolio. This new partnership with IOCL will drive better outcomes for our customers as well as for our business.”

Highlighting the special features of the co-branded card, ND Mathur, Executive Director (Retail Transformation) at IndianOil, said, “At IndianOil, we always strive to provide a hassle-free fueling experience and an enhanced value proposition for our customers at our retail outlets. This strategic partnership with RBL Bank is a significant step in that direction, and we are confident it will be a valuable addition to our range of offerings.”