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SBI Card Now 2 million strong and growing

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Mumbai – January 6, 2006 – SBI Card announced that it has crossed the two million card customer milestone.

SBI Card, a joint venture between GE Money and State Bank of India (SBI) that began in 1998, has experienced double-digit growth by combining SBI’s market presence and strength as a trusted brand with GE Money’s global expertise in technology, business processes, and international leadership in innovative financial products and services.

The size of the Indian credit cards market is estimated to be about $4
billion and is growing at 35% per year. SBI Card, with its rapid
expansion plans, aggressive investments in large co-branded card deals and technology to enhance customer experience, aims to be the preferred credit card provider in India for consumers across all segments of society. SBI, India’s largest and most trusted bank, has over 14,000 branches nationwide and 6,000 ATMs – the largest ATM network of any bank in Asia outside Japan.

“Two million cards is a significant milestone and we are very pleased
with our customer feedback and loyalty to SBI Card’s product offerings,” said Roopam Asthana, CEO of SBI Card. “We have made a commitment to understanding and addressing our customers’ dynamic financial needs. Only in this way can we continue to deliver the most innovative and differentiated products to consumers across the entire spectrum in India.”

By leveraging GE Money’s sophisticated analytics and risk management, investing in state-of-the-art technology, and utilizing GE’s Six Sigma/Lean processes to eliminate inefficiency and waste, SBI Card offers some of the fastest turn-around times for approval and cash in the market. It answers 500,000 customer service calls and processes and delivers a million cards a month.

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SBI Card offers tailor-made products which no one else in the market can offer, such as the LG Card, with the largest durables and electronics company in India, and the Hero Honda Card, with the world’s largest maker of motorcycles, as well as the Lifestyle Card, a Visa card with ‘Lifestyle’ (a part of the Landmark group) – one of India’s largest premium multi-branded retail store chains. For customers who wish to leverage their spending power for a good cause, SBI Card offers a co-branded Visa card with four leading NGOs: National Association of the Blind, SOS Villages of India, World Wildlife Federation, and Cancer Patients Aid Association.

With sizeable investments in people, technology, and processes, SBI Card plans to launch a number of exciting new products in 2006 to continue the momentum it has built in India.

About SBI Card
SBI Card is a joint venture between State Bank of India and GE Money to offer Indian consumers extensive access to a wide range of world-class, value-added payment products and services. The partnership leverages the competitive advantages of SBI’s brand equity, 100% blind brand recall, customer relationship and incomparable market presence with GE Money’s global expertise and experience in technology and processes, Six Sigma approach to quality, world class customer service, retail marketing, product development and risk / credit management. The partners have set up two joint venture companies to develop SBI’s payment card business in India — SBI
Cards & Payment Services Pvt. Ltd. which focuses on the marketing and distribution of SBI Card and GE Capital Business Processes Management Services Ltd., which handles the technology and processing needs of SBI Card. With over 2 million credit cards, SBI Card has co-branded card relationships with Apna Bazaar, Hero Honda, LG, Lifestyle and United Bank of India.

ABOUT GE MONEY INDIA
GE Money is one of the leading providers of financial services to
consumers and retailers in India, offering a range of innovative financial
products to suit its customers’ needs. It has a strong retail distribution network in over 5,500 outlets across 60 locations and is a leader in a wide range of products including auto finance, two wheeler finance, consumer durable finance, personal loans and home equity loans. Strong operations backed by the latest information technology support the product lines. Its CRM program is among the most successful customer retention programs in India and a single database housing nearly 2.4 million customer accounts, latest technology, and centralized operations ensure the best service standards in the industry. With strong joint venture partners in Maruti and State Bank of India, GE Money continues to add value to its customers and partners in India.

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Mobile: +91-9820016483/+91-9820363681
Email: sachin.talwar@rnpmc.com; phiroza.choksi@rnpmc.com

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News Broadcasting

Barc forensic audit in TRP row awaits as Twenty-Four probe gathers pace

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KERALA: A forensic audit commissioned by the Broadcast Audience Research Council (BARC) India has emerged as the centrepiece of the government’s response to fresh allegations of television rating point manipulation involving a regional news channel in Kerala, with both the audit findings and a parallel police investigation still awaited.

Replying to a query in the Lok Sabha, minister of state for information and broadcasting L Murugan, said Barc had appointed an independent agency to conduct a forensic probe into the conduct of senior personnel allegedly linked to the case.

The move followed media reports claiming that a Barc employee had accepted bribes to manipulate viewership data in favour of a regional television news channel.

“The report from BARC is still awaited,” Murugan told Parliament, signalling that the forensic exercise remains ongoing.

Industry specialists say forensic audits are crucial in alleged TRP fraud cases, as they examine internal controls, data access trails, panel household integrity, staff communications and financial transactions. The outcome could determine whether the alleged manipulation was an isolated breach or a deeper systemic weakness in India’s television measurement framework.

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Running alongside the audit, the Kerala Police has formed a special investigation team to probe the allegations. The ministry has sought a preliminary report from the state’s director general of police, including details of action taken on the first information report. That report, too, is yet to be submitted.

The episode has revived long-standing concerns over the vulnerability of India’s TRP system, particularly in regional news markets where competition for ratings is fierce and advertising revenues hinge on weekly viewership rankings.

India’s sole television audience measurement body Barc, has faced scrutiny before, most notably during the nationwide TRP controversy involving news channels in 2020. While tighter compliance norms were introduced in the aftermath, the latest allegations suggest enforcement challenges may persist.

On regulatory consequences, the government said any punitive action against television channels, including suspension or cancellation of uplinking and downlinking permissions, would be governed by the Policy Guidelines for Uplinking and Downlinking of Television Channels issued in November 2022, and would depend on investigation outcomes and due process.

The ministry also pointed to ongoing efforts to overhaul the ratings ecosystem. Television measurement continues to be regulated under the Policy Guidelines for Television Rating Agencies, 2014. Draft amendments were released for public consultation in July 2025, followed by a revised version in November 2025, aimed at tightening audit mechanisms and improving transparency and representativeness.

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In November 2025, Barc said it had taken note of allegations aired by Malayalam news channel Twenty-Four, which linked an internal employee to irregularities in audience measurement. The council said it had engaged a “reputed independent agency” to conduct a comprehensive forensic audit, underscoring the seriousness of the claims.

The ratings system sits at the heart of India’s broadcast advertising economy, shaping billions of rupees in annual ad spends. With trust in audience data once again under strain, advertisers, broadcasters and regulators are closely watching the outcome of the investigations.

Barc has urged industry stakeholders and media organisations to exercise restraint while the probe is underway, calling for an end to “unverified or speculatory claims” and reiterating its commitment to integrity and accountability.

Until the forensic audit and police findings are submitted and reviewed, the government said it would refrain from drawing conclusions.

 

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Rajat Sharma defamation row: Delhi court summons Congress leaders Ragini Nayak, Pawan Khera and Jairam Ramesh

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NEW DELHI: A Delhi court has ordered the summoning of senior Congress leaders Ragini Nayak, Pawan Khera and Jairam Ramesh in a criminal case filed by veteran journalist Rajat Sharma, sharpening a legal battle over alleged defamation and doctored digital content.

The order was passed on Monday by Devanshi Janmeja, judicial magistrate first class at Saket Courts, after the court found prima facie grounds to proceed under multiple sections of the Indian Penal Code, including forgery, creation of false electronic records and defamation.

Sharma, chairman and editor-in-chief of India TV, had approached the court over allegations made in June 2024 that he had used derogatory language against Congress spokesperson Ragini Nayak during a live television debate. He denied the charge, claiming it was fuelled by a manipulated video circulated online.

According to the complaint, a clipped version of the broadcast carrying superimposed captions, which were not part of the original programme, was first shared on social media platform X by Nayak and later amplified through retweets and public statements by Khera and Ramesh. Sharma said the viral spread caused serious reputational harm and personal distress.

The court took note of forensic science laboratory findings that pointed to visible post-production alterations in the video, including added titles and captions. It also cited witness testimonies from those present during the live broadcast, who stated that no abusive or objectionable language had been used.

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In a related civil matter, the Delhi High Court had earlier observed a prima facie absence of abusive remarks and directed the removal of the disputed social media posts.

With criminal proceedings now set in motion, the case adds to mounting scrutiny around political messaging, digital manipulation and accountability on social media platforms.

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Mukesh Ambani, Larry Fink come together for CNBC-TV18 exclusive

Reliance and BlackRock chiefs map the future of investing as global capital eyes India

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MUMBAI: India’s capital story takes centre stage today as Mukesh Ambani and Larry Fink sit down for a rare joint television conversation, bringing together two of the most powerful voices in global business at a moment of economic churn and opportunity.

The Reliance Industries chief and the BlackRock boss will speak with Shereen Bhan, managing editor of CNBC-TV18, in an exclusive interaction airing from 3:00 pm on February 4. The timing is deliberate. Geopolitics are tense, technology is disruptive and capital is choosier. India, meanwhile, is pitching itself as a long-term bet.

The pairing is symbolic. Reliance straddles energy transition, digital infrastructure and consumer growth in the world’s fastest-expanding major economy. BlackRock, the world’s largest asset manager, oversees more than $14 tn in assets and sits at the nerve centre of global capital flows. When the two talk, markets tend to listen.

Fink’s appearance marks his third India visit, a signal of the country’s rising strategic weight for the Wall Street-listed firm, which carries a market value above $177 bn. His earlier 2023 trips included an October stop in New Delhi, where he met both Ambani and Narendra Modi.

India is now central to BlackRock’s expansion plans, notably through its joint venture with Jio Financial Services. Announced in July 2023, the 50:50 venture, JioBlackRock, commits up to $150 mn each from the partners to build a digital-first asset-management platform aimed at India’s swelling investor class.

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The backdrop is robust. BlackRock ended 2025 with record assets under management of $14.04 tn, helped by $698 bn in net inflows, including $342 bn in the fourth quarter alone. Scale gives Fink both heft and a long lens on where money is moving.

He has been openly bullish on India. At the Saudi-US Investment Summit in Riyadh last year, Fink argued that the “fog of global uncertainty is lifting”, with capital returning to dynamic markets such as India, drawn by reforms, demographics and durable return potential.

Expect the conversation to range beyond balance sheets, into technology’s role in finance, access to capital and the mechanics of sustainable growth in a fracturing world order. For investors and policymakers alike, it is a snapshot of how big money is thinking about India.

At a time when capital is cautious and growth is contested, India wants to be the exception. When Ambani and Fink share a stage, it is less a chat and more a signal. The world’s money is still looking for its next big story, and India intends to be it.

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