According to sources, the deal that was pursued by many domestic and global suitors, values the credit card business at about $800-850 million. The business is divided into two parts —one that deals with marketing and distribution, SBI Cards and Payments, and the back office and technology arm GE Capital BSE 0.18% Business Processes Management Services. While GE holds 40% stake in the first entity, it holds 60% in the latter.

This article apeared in Economic Times on 21st December, 2016.