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India's Life Insurance Corp. reportedly plans to launch its credit card business with Corporation Bank, a public bank based in India. Earlier this year, Life Insurance dropped its plans for a venture with GE Money, reportedly because GE Money faced problems with another card-related venture with the State Bank of India (CardLine Global, 29 July). Neither company has responded to CardLine Global requests for comment. Setting up a venture between two public companies presents fewer regulatory challenges, according to a report in the India-based Business Standard newspaper. The insurance company has some 190 million policyholders to whom the venture presumably would market its cards.
