MUMBAI: Adani Group chairman Gautam Adani has introduced a credit card in alliance with ICICI Bank, marking his foray into retail finance. The partnership will take on competitors like Tata, Reliance and Aditya Birla groups in a crowded Indian market.
The billionaire, through his group’s digital platform Adani One, and ICICI Bank have launched the credit card with airport-linked benefits in collaboration with Visa.Cardholders will get up to 7% reward points on spends within the Adani Group ecosystem. These include the Adani One app which can be used for booking flights, hotels, trains, buses and cabs. Spending in Adani-managed airports, Adani CNG pumps and Adani electricity bills is also covered.
Gautam Adani’s initiative comes at a time when Mukesh Ambani’s Reliance Industries has aggressive plans in the financial services sector. Last year, Ambani’s retail unit and SBI launched a co-branded credit card on the RuPay payment network. Aditya Birla Group, too, has co-branded credit cards with SBI and AU Small Finance Bank.