LIC likely to launch credit card in October

02 September 2008

Mumbai: Life Insurance Corporation of India (LIC) is likely to launch its credit card in October, senior divisional manager Bhausaheb Gujar told reporters at a press meet in Nagpur.

LIC is in the process of finalising the partner and in all probablity it would be introduced next month, Gujar said at the occasion of LIC's 52nd anniversary. He, however, declined to reveal the name of the partner.

It was earlier reported to be mulling launching tbe caed in association with GE Money.

''We were in negotiations with a firm, but the deal could not be finalised for some reason. We are now negotiating with another partner, and the talks are in final stages. In all likelihood, LIC's credit card will be launched in October 2008,'' he said.

LIC, will also start accepting premium through credit cards from next year and is currently in the process of completing formalities, Gujar said.

''Hopefully, premium payment will start by the next financial year,'' he said.