SBICARD

✅ SBI Cards – Recent News & Updates

✅ SBI Cards – Recent News & Updates 1. Profit growth picks up in Q2 SBI Cards reported around 10% year-on-year growth in Q2 profit, supported by better fee income and healthy spending growth. Customer spending on SBI Cards continues to grow strongly, especially in online shopping, travel, and lifestyle categories. 2. Profit decline earlier due to higher defaults In the previous quarter, SBI Cards had reported a drop in profit because of higher write-offs and increased provisioning. This indicates that some stress in the credit card customer segment still exists. 3. Digital onboarding overhaul – “SBI Card Sprint” The company is pushing a major digital transformation through an AI/ML-based onboarding system called SBI Card Sprint. This has: Cut customer acquisition costs significantly Reduced manual paperwork Speeded up approval and activation Improved fraud detection This is one of SBI Cards' biggest tech upgrades in recent years. 4. Reward points changes from September 2025 SBI Cards will stop giving reward points on: Spending on digital gaming platforms Certain government services This affects some Lifestyle Home Centre, SELECT, PRIME, and related variants. The company is tightening reward structures to reduce misuse and improve profitability. 5. Complimentary air accident insurance being discontinued From August 2025, some SBI Cards — including ELITE, PRIME, and a few Platinum variants — will no longer have the complimentary air accident insurance benefit. Customers using these cards for travel insurance benefits should take note.