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The Company is the leading player in open market customer acquisition in India according to the CRISIL Report. The Company deploys a sales force of 32,677 outsourced sales personnel as of Decemoperating out of 145 Indian cities and which engages prospective customers through multiple channels, including physical points of sale in bank branches, retail stores, malls, fuel stations, railway stations, airports, corporate parks and offices, as well as through tele-sales, online channels, email, SMS marketing and mobile applications. SBI Cards has a diversified customer acquisition network that enables it to engage prospective customers across multiple channels. The Company issues its credit cards in partnership with the Visa, MasterCard and RuPay payment networks, and it is continuously looking to expand its payment network partnerships to broaden the reach and functionality of its credit card offerings. The Credit cards portfolio is tailored to meet a diverse range of cardholder needs across the entire spectrum of its cardholders` income profiles and lifestyles, from the `premium` cardholder category to the `affluent`, `mass affluent`, `mass` and `new to credit` categories. The Company is also the largest co-brand credit card issuer in India according to the CRISIL Report, and it has partnerships with several major players in the travel, fuel, fashion, healthcare and mobility industries, including Air India, Apollo Hospitals, BPCL, Etihad Guest, Fbb, IRCTC, OLA Money and Yatra, among others. The Company offers four primary SBI Card branded credit cards: SimplySave, Simplålick, Prime and Elite, each catering to a varying set of cardholder needs. SBI Cards has a broad credit card portfolio that includes SBI Card-branded credit cards as well as co-branded credit cards that bear both the SBI Card brand and its co-brand partners` brands. From Mato Maits total credit card spends grew at a 54.2% CAGR (as compared to a 35.6% CAGR for the overall credit card industry, according to the RBI) and the number of its credit cards outstanding grew at a 34.5% CAGR (as compared to a 25.6% CAGR for the overall credit card industry, according to the RBI). According to the RBI, the company has grown its business faster than the Indian credit card market over the past three years both in terms of numbers of credit cards outstanding and amounts of credit card spends, and the company believes it has achieved this by leveraging its strength and capitalizing on India`s favourable economic and demographic changes, including its strong macroeconomic performance, rising affluence, increasing consumer demand, rapid urbanization and the growth of e-commerce platforms. The Company started its operations in 1998, and since then SBI`s parentage and highly trusted brand have allowed it to quickly establish a reputation of trust, reliability and transparency with its cardholders. SBI Cards and Payment Services Limited is a subsidiary of SBI, India`s largest commercial bank in terms of deposits, advances and number of branches as of September 30, 2019, according to the RBI. The Company offers an extensive credit card portfolio to individual cardholders and corporate clients which includes lifestyle, rewards, travel and fuel, shopping, banking partnership cards and corporate cards covering all major cardholder segments in terms of income profiles and lifestyles.
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SBI Cards is the second-largest credit card issuer in India, with a 17.6% and 18.1% market share of the Indian credit card market in terms of the number of credit cards outstanding as of Maand November 30, 2019, respectively, and a 17.1% and 17.9% market share of the Indian credit card market in terms of total credit card spends in fiscal 2019 and in the eight months ended November 30, 2019, respectively, according to the RBI. 14.01328) dated Novemwas issued by the RBI.
SBI SHARE PRICE REGISTRATION
Pursuant to a change in name of the Company and conversion from a private company to a public company, a certificate of registration (bearing number No. The Company was registered as a non-public deposit taking NBFC pursuant to a certificate of registration (bearing number No. On the conversion of the Company to a public limited company, pursuant to a special resolution passed by the shareholders on August 2, 2019, the name was changed to, `SBI Cards and Payment Services Limited` on August 20, 2019. SBI Cards and Payment Services Limited was incorporated as a private limited company with the name `SBI Cards and Payment Services Private Limited` on in New Delhi.