IndusInd Bank (NSE:INDUSINDBK) filed a press release on 7 August 2026 under Regulation 30 of the SEBI LODR Regulations, announcing the co-branded launch of the EazyDiner IndusInd Bank Platinum RuPay Credit Card, a lifetime-free card offering Rs 21,495 in annual dining and entertainment benefits.
Key Highlights
- The EazyDiner IndusInd Bank Platinum RuPay Credit Card carries no joining or annual fees and is positioned as lifetime-free for eligible cardholders.
- Cardholders can receive up to Rs 18,000 in annual dining savings through extra discounts of Rs 500 per dining transaction on the EazyDiner app, usable three times per month.
- A complimentary BookMyShow Buy One Get One movie ticket each month adds Rs 2,400 in annual entertainment value, per the press release dated 7 August 2026.
- The card operates on the RuPay network, enabling UPI QR code payments and allowing cardholders to earn reward points on transactions processed through any linked UPI app.
About the Company
IndusInd Bank (NSE:INDUSINDBK), headquartered in Pune with its corporate office in Mumbai, is a private sector bank incorporated in 1994. As of 30 June 2026, it serves approximately 42 million customers across 3,137 branches and banking outlets, supported by 2,853 ATMs reaching 1.60 lakh villages. Its product portfolio spans microfinance, vehicle financing, SME loans, credit cards, and NRI banking services.
Announcement in Detail
The press release filed on 7 August 2026 details the joint launch by EazyDiner and IndusInd Bank of the EazyDiner IndusInd Bank Platinum RuPay Credit Card. The card's disclosed annual benefit of Rs 21,495 comprises Rs 18,000 in dining savings via the EazyDiner app, a complimentary three-month EazyDiner Prime membership valued at Rs 1,095, and Rs 2,400 worth of monthly BookMyShow Buy One Get One tickets.
EazyDiner Prime membership provides discounts of 25% to 50% at over 40,000 restaurants across India and Dubai. The RuPay network integration means cardholders can link the card to a UPI app and transact at any QR code-enabled merchant while accumulating reward points. The card carries no joining or recurring annual fee, as stated in the filing. Executive Director Jagdeep Mallareddy of IndusInd Bank and EazyDiner Founder Kapil Chopra are named as spokespeople in the announcement.
Impact on Investors
Investors will note that this product launch represents an extension of IndusInd Bank's co-branded credit card portfolio, targeting the dining and lifestyle segment through the RuPay network. The filing shows the card is structured with zero-fee revenue from cardholders, meaning the bank's returns from this product will depend on interchange income and cross-sell uptake rather than fee income.
Shareholders will observe that the announcement does not disclose cardholder acquisition targets, projected card issuance volumes, or any incremental revenue or cost guidance. The disclosed terms indicate that this is a strategic partnership announcement at the product-launch stage, and no financial impact figures are provided in the filing for investors to assess at this time.
Sector / Market Context
India's credit card industry has seen consistent growth in transaction volumes in recent years, with the Reserve Bank of India reporting over 110 million credit cards outstanding as of early 2026. Co-branded cards on the RuPay network have gained traction following the National Payments Corporation of India's push to enable RuPay credit card linkage with UPI, broadening merchant acceptance for credit card transactions across QR code infrastructure.