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Innovative Strategies By Abhay Bhutada For A Standout Co-branded Credit Card

 Credit cards have evolved beyond mere financial tools into essential instruments of convenience and rewards. Understanding this, Poonawalla Fincorp is gearing up to launch a co-branded credit card in collaboration with IndusInd Bank, aiming to carve out a distinctive niche in the crowded market. Abhay Bhutada, MD of Poonawalla Fincorp, shares the company’s vision and strategic approach behind this new product.

Abhay Bhutada


Abhay Bhutada's Unique Approach to Credit Cards

Abhay Bhutada's leadership at Poonawalla Fincorp focuses on innovation and meeting customer needs. The new co-branded credit card reflects this philosophy by aiming to offer more than the usual features. Poonawalla Fincorp ensures that every aspect of the card complies with regulatory standards and customer expectations, thanks to a robust integration with their co-brand partner, IndusInd Bank.

Also read: Meet Abhay Bhutada: The Winner Of Lokmat Maharashtrian Of The Year 2024

Eliminating Joining Fees for Wider Accessibility

One of the standout features of Poonawalla Fincorp's upcoming credit card is the absence of a joining fee. This move is designed to make the card accessible to a broader audience, removing a common barrier that potential cardholders often face. This strategy underscores the company’s commitment to providing immediate value to customers, making it an attractive choice from the outset.

Leveraging Strategic Partnerships

In September 2023, Poonawalla Fincorp received approval from the Reserve Bank of India (RBI) to issue co-branded credit cards with IndusInd Bank. This partnership is crucial as it combines Poonawalla Fincorp’s customer-centric approach with IndusInd Bank’s extensive banking infrastructure. Such collaborations are essential for developing innovative, reliable, and secure financial products.

Comprehensive Benefits for Cardholders

The new credit card promises a comprehensive suite of benefits tailored to diverse customer needs. Although specific details of the rewards and perks are yet to be fully disclosed, cardholders can expect a range of attractive features. These might include cashback offers, reward points, and exclusive deals, enhancing the overall value proposition. For instance, frequent travelers could benefit from airline mile rewards, while avid shoppers might enjoy cashback on retail purchases.

Commitment to Growth and Stability

Poonawalla Fincorp is not only focused on introducing new products but also on sustaining growth and stability. The company aims for an asset under management (AUM) growth rate of 35–40%, reflecting its ambitious yet achievable targets. As of March 31, the company’s AUM stood at an impressive Rs 25,003 crore. This robust financial health positions Poonawalla Fincorp well to support and expand its credit card offerings. The company’s focus on sustainable growth mirrors the strategies of financial luminaries like Warren Buffett, who advocate for steady, long-term growth over rapid, short-term gains.

Also read: Abhay Bhutada: Driving Digital Transformation in NBFC Sector

Reducing Non-Performing Assets

Maintaining low levels of non-performing assets (NPA) is critical for any financial institution. Poonawalla Fincorp has made significant progress in this area, with a gross NPA ratio ranging from 1.3% to 1.8% and a net NPA ratio of 0.59% as of the latest reports. This focus on asset quality ensures that the company remains financially sound, providing a secure platform for its credit card operations. A strong emphasis on reducing NPAs not only strengthens the company’s financial standing but also instills confidence among potential cardholders and investors.

Enhancing Customer Experience with Technology

In today's digital age, leveraging advanced technology is crucial for enhancing customer experience. Poonawalla Fincorp plans to utilize state-of-the-art technology to provide seamless and secure transactions for its credit card users. Features like instant card issuance, real-time transaction alerts, and a user-friendly mobile app for managing expenses and rewards will likely be part of the offering. These technological advancements are designed to make the customer’s financial journey smoother and more intuitive.

Promoting Financial Literacy and Robust Customer Support

Understanding the nuances of credit card usage is vital for customers to maximize their benefits and avoid common pitfalls. Poonawalla Fincorp intends to invest in financial literacy programs to educate cardholders on responsible usage, credit scores, and effective financial planning. Additionally, robust customer support services, available 24/7, will ensure that cardholders receive prompt assistance and guidance whenever needed. This dual approach of education and support underscores the company’s commitment to customer welfare.

Looking Ahead: Future Prospects and Vision

Abhay Bhutada MD


Abhay Bhutada emphasizes the company’s dedication to continuous improvement and innovation. The upcoming credit card is a testament to this vision, aiming to offer features that not only meet but exceed customer expectations. The collaboration with IndusInd Bank is just the beginning, as Poonawalla Fincorp looks to explore further opportunities to enhance its product portfolio and deliver exceptional value to its customers. The strategic focus on innovation and customer-centricity aligns with global best practices and sets a strong foundation for future growth.

Also read: Unveiling Abhay Bhutada: A Leader’s Inspiring Odyssey In Finance

Final Thoughts

Poonawalla Fincorp’s entry into the co-branded credit card market is a strategic move designed to offer a distinctive product proposition. Under Abhay Bhutada's leadership, the company is set to introduce a credit card that combines accessibility, comprehensive benefits, and financial stability. As the launch approaches, customers can look forward to a new era of convenience and rewards in their financial transactions.

This new credit card from Poonawalla Fincorp, backed by the strength and reliability of IndusInd Bank, promises to be a game-changer in the credit card landscape. With a clear focus on customer needs and a commitment to excellence, Poonawalla Fincorp is poised to make a significant impact with its innovative approach to financial products. As the company continues to evolve and expand, it remains dedicated to providing exceptional value and service to its customers, setting new benchmarks in the industry.

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