India's largest bank, State Bank of India, has introduced its first credit card, in conjunction with GE Capital.

The companies formed two joint ventures to develop State Bank of India's payment card business: One manages card marketing and distribution, the other technology and processing.

The State Bank Visa card "will meet the growing needs of India's expanding middle-class population for efficient payment products and services, which are accessible beyond the metropolitan areas," said M.S. Verma, chairman of the bank. Visa is accepted at more than a million locations in India and Nepal.

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