Development Credit Bank launches its credit card

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Mumbai, Mar 4 (UNI) Development Credit Bank, a private sector bank, today launched its credit card ''DCB Advantage Card'' and plans to enter the Indian capital market.

The Development Credit Bank will run its credit card business in association with country's largest private sector lender ICICI Bank, which will manage the credit services and provide the necessary backup, DCB Managing Director Gautam Vir told reporters here today.

He said that the card will offer value and convenience in the Indian credit card industry. The card will have a value adding provision for high-end users, those having good spending capacity and pay-back record.

The Bank plans to enter the Indian capital market either with some mode of investment or through a joint venture company, Mr Vir said, adding, ''We are waiting for the stabalisation of the market to enter the capital market.'' However, he declined to reveal the mode via which the bank will enter the market.

UNI PP NM VKG1700

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