SBI Cards and Payment Services Limited launched the Advantage SBI Card on the State Bank of India's digital platform, SBI YONO, on September 23, 2026. This initiative introduces a seamless, 100% paperless journey enabling customers to avail secured credit cards backed by fixed deposits within 10 minutes.

The launch integrates SBI Card’s credit expertise with SBI’s extensive reach and YONO’s digital capabilities. Customers holding a fixed deposit with SBI can now apply for secured credit cards through a fully digital process. The move aims to simplify access to formal credit while combining the security of a fixed deposit with the benefits of a credit card.

Digital journey features

The new offering allows customers to choose from four specific secured card variants directly on the SBI YONO app. The end-to-end digital experience is designed to reduce application time significantly, catering to customers seeking instant access to credit facilities without physical documentation.

Leadership remarks

Salila Pande, Managing Director & Chief Executive Officer of SBI Card, stated that the new journey is designed to bring greater ease to the credit application process. She emphasized that customer centricity remains at the core of the company’s approach as it continues to simplify experiences through technology-led solutions.

The initiative was inaugurated by Challa Sreenivasulu Setty, Chairman of State Bank of India, in the presence of Ashwini Kumar Tewari, Managing Director of SBI. The collaboration underscores the strategic alignment between the parent bank’s digital infrastructure and the subsidiary’s product portfolio.

Strategic implications

This launch reinforces SBI Card’s focus on building digital-first customer journeys to expand access to formal credit. By leveraging the existing base of over 22 million cards-in-force and SBI’s widespread branch network, the company aims to capture customers looking to establish or strengthen their credit profiles with minimal friction.

SBI Cards revised its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information during a Board meeting held on September 21, 2026. The update aligns the company’s internal protocols with Regulation 8 of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

The revised code mandates prompt disclosure of any credible and concrete information that could impact price discovery. This includes financial results, dividends, changes in capital structure, mergers, acquisitions, and significant changes in key managerial personnel. The company emphasized that such information must be disseminated uniformly to avoid selective disclosure.

Key Provisions

The updated framework outlines specific obligations for handling unpublished price sensitive information:

• Uniform Dissemination: Information must be made generally available simultaneously to prevent creation of a false market in securities.
• Role of CIRO: The Chief Financial Officer serves as the Chief Investor Relations Officer, responsible for authorizing disclosures and responding to market rumors.
• Legitimate Purposes: Sharing of sensitive information is permitted only for legitimate business purposes, such as with auditors, legal advisors, or lenders, provided it does not circumvent regulatory prohibitions.
• Digital Database: A Structured Digital Database must be maintained to record all instances where sensitive information is shared, including internal and external recipients.

Compliance Mechanisms

The company stated that all communications regarding sensitive information with stock exchanges require prior approval from the Chief Investor Relations Officer. In cases of inadvertent selective disclosure, immediate steps must be taken to make the information generally available. The full revised code is available on the company’s website.