RBL Bank today announced that it has extended the co-brand credit card partnership with Bajaj Finance Ltd for a period of five years up to December 2026.
“RBL Bank Limited today announced the signing of the agreement with Bajaj Finance Limited for the extension of the partnership of co-branded credit cards for a period of 5 years to December 2026,” the lender informed the exchanges.
On Monday, RBL Bank shares plummeted 18.10% to close at ₹141.6 apiece on NSE.
Earlier during the day, the Reserve Bank of India (RBI) has allayed fears after the Central bank appointed additional director to the Board, saying RBL Bank is well capitalised and the financial position of the bank remains satisfactory and that there is no need for depositors and other stakeholders to react to the speculative reports.
“The Reserve Bank would like to state that the bank is well capitalised and the financial position of the bank remains satisfactory. As per half yearly audited results as on September 30, 2021, the bank has maintained a comfortable Capital Adequacy Ratio of 16.33 per cent and Provision Coverage Ratio of 76.6 per cent. The Liquidity Coverage Ratio (LCR) of the bank is 153% as on December 24, 2021 as against regulatory requirement of 100%,” RBI said in a statement.
RBL Bank’s shares tumbled as much as 25% in Monday’s deals, the biggest decline since listing in 2016. In a surprising turn of events, Yogesh Dayal, RBI’s Chief General Manager, was appointed to RBL’s board by the central bank for two years.
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