Date:15/06/2008 URL: http://www.thehindu.com/2008/06/15/stories/2008061555861500.htm

Business

Arthaeon to launch unique credit card

Corporate Reporter

CHENNAI: Arthaeon Financial Services, set up in January by a group of professionals from the banking and financial services industry, will be launching a unique credit card that gives the customer benefits on buying gold and jewellery.

According to Suresh Rangarajan, Managing Director and CEO, the company was currently in the process of inking MoUs with leading jewellery brands, both at the national as well as local levels. The card will be launched in the second quarter of this financial year, Mr. Suresh Rangarajan said.

The company has established 20 branches across cities and towns he said.

In addition to the tie-up with Barclays for the credit card, the company has tied up with partners across insurance and mutual funds. “ The second quarter of 2008 will see us go into customer acquisition and marketing activities on a larger scale”, he said. The company has a capital base of Rs. 200 crore. It offers all third-party retail financial products under the brand name Artha Money which will provide a single-stop, multi-product, multi-brand financial services for the retail Indian consumer, whether living in India or abroad.

Artha Money will open about 50 branches this year and is targeting a million customers in a year.