RBL Bank today announced that it has extended the co-brand credit card partnership with Bajaj Finance Limited for a period of five years till December 2026.
“RBL Bank Ltd today announced the signing of agreement with Bajaj Finance Ltd for extension of co-branded credit card partnership for a period of 5 years till December 2026,” the lender informed the exchanges.
Shares of RBL Bank closed with a fall of 18.10% on Monday 141.6 each on NSE.
Earlier during the day, the Reserve Bank of India (RBI) allayed apprehensions after the central bank appointed additional directors on the board, saying RBL Bank is well capitalized and the bank’s financial position remains satisfactory. And there is no need for depositors. and other stakeholders to respond to speculative reports.
“The Reserve Bank wishes to state that the Bank is well capitalized and the financial position of the Bank remains satisfactory. As per the half-yearly audited results as on September 30, 2021, the Bank maintained a comfortable Capital Adequacy Ratio of 16.33 per cent. and a provision coverage ratio of 76.6 per cent. The liquidity coverage ratio (LCR) of the bank as on December 24, 2021, stands at 153%, as against the regulatory requirement of 100%, RBI said in a statement.
RBL Bank shares fell up to 25% in Monday’s deals, the biggest drop since it was listed in 2016. In a surprising turn of events, RBI Chief General Manager Yogesh Dayal was appointed to the board of RBL by the central bank for two years.
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