Incorporated in October 1998, SBI Cards started its operations as JV between SBI and GE Capital however GE Capital sold its stake to Caryle Group & SBI in 2017. In April 2018, SBI Business Process and Management Services, a company providing backend payments and processing services to SBI Cards was merged with company and name was changed to SBI Cards and Payment Services Ltd in August 2019. It is the second-largest credit card issuer in India, with 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 six months ended September 30, 2019 respectively. The revenue model generates both non-interest income as well as interest income...