India's Life Insurance Corp. Issues Delayed Credit Card

Published April 02, 2009, 1:00 a.m. EDT

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Updated April 02, 2009, 12:00 a.m. EDT

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India-based Life Insurance Corp. finally has begun issuing its long-delayed credit cards, according to press reports. The firm, which claims 220 million policyholders, is issuing the card through India-based Corporation Bank. The financial institution issues Visa-branded cards. Life Insurance Corp. previously said it would begin issuing the card by April (CardLine Global, 26 May), but launch dates were repeatedly pushed back because of unspecified technical problems and uncertainty over who would be the company's issuing partner. The new credit card enables consumers to pay premiums as well as make regular retail transactions.

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