Current Affairs - Banking - Discussion

Indian Overseas Bank (IOB) partnered with Novio, operated by Credilio Financial Technologies, to launch a co-branded RuPay credit card at the Global Fintech Fest on September 22, 2026. The card is designed to serve UPI-active customers and first-time credit users, offering RuPay Select and RuPay Platinum variants. Key features include UPI-linked engagement, FD-backed credit facilities for customers without formal credit histories, digital onboarding and rewards. IOB aims to issue 50 lakh credit cards over the next three years, with a focus on expanding formal credit access in Tier-V cities. IOB is headquartered in Chennai, Tamil Nadu.