Press Release

SBI Card Forays Into Mobile Commerce

Launches mShop, access to over 100 merchants across India

New Delhi, November 18, 2009: SBI Card customers can now shop from over 100 merchants across India using their mobile phones. Buying air tickets, cinema tickets and paying utility bills using their mobile phones, SBI Card customers are now among an exclusive club of credit card customers in India that enjoy such a wide choice of merchant outlets for shopping through mobile phones. Branding it mShop, SBI Card offers this service through a tamper-proof and reliable mobile shopping application by ngpay.

Mr. Diwakar Gupta, CEO, SBI Card said, “We are delighted to launch mShop, yet another way to make life simple for our customers. mShop will further enhance our cardholders’ experience with SBI Card. It will also open up a new revenue stream for our business. ”

mShop offers SBI Card customers the convenience of transacting anytime, anywhere, while ensuring complete security of their transactions. Among the prominent merchant organizations now accessible to SBI Card customers through their mobile phones are IRCTC, Kingfisher Airlines, MakeMyTrip.com, PVR Cinemas, INOX and Airtel. All mobile transactions are secured with a 6-digit user selected PIN and all credit card details are stored in an encrypted, tamper-proof format. SBI Card customers can instantly download the mShop application on their mobile phones and after initial registration can begin shopping on the go. The mShop application can be downloaded by either sending an SMS to 56767 or logging on the SBI Card website - www.sbicard.com.

About SBI Card
SBI Card is a joint venture between State Bank of India and GE Capital to offer Indian consumers extensive access to a wide range of world-class, value-added payment products and services. The partners have set up two joint venture companies to develop a credit card business in India -- SBI Cards & Payment Services Pvt. Ltd., which focuses on the marketing and distribution of SBI Card and GE Capital Business Processes Management Services Pvt. Ltd., which handles the technology and processing needs of SBI Card. Visit www.sbicard.com for more details.