SBI Cards will soon approach the Reserve Bank of India seeking a review of the latter’s decision to ban ‘zero per cent’ EMI (equated monthly instalment) schemes for purchase of consumer goods through credit cards. The standalone card issuer will pitch for a rethink on the decision with a promise of better communication with customers in the coming days, Pallav Mohapatra, Chief Executive Officer, SBI Cards, told Business Line. SBI Cards will soon write to the RBI in this regard, he added. However, Mohapatra said the RBI move would “not be a very big blow” to SBI Cards, but admitted it could impact turnover........
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