Indian Bank (INDIANB.NS)

India cenbank tells two lenders to stop adding customers to co-branded credit cards

India's central bank has asked South Indian Bank and Federal Bank to stop adding new customers to their co-branded credit cards, the lenders said in separate stock exchange filings on Wednesday. South Indian Bank said it has been asked to stop on-boarding any fresh customers in its co-branded credit cards until it complies with regulatory guidelines. Federal Bank said it has been asked to halt the issuance of new co-branded credit cards by the Reserve Bank of India (RBI).