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Here proof - ICICI Sapphiro Credit card launched on RuPay Network

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Even I had contacted them last month with the devaluation PDF and asked for Sapphiro Rupay.
But it looks like they are not aware of this, and ICICI hasn't even launched Sapphiro Rupay.
 
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According to customer care, they're not issuing Sapphiro Rupay cards. They are only able to issue Coral / HPCL / Rubyx on Rupay. They even mentioned you can apply directly on the website if it is giving an option to do so.

Has anyone really got this Sapphiro Rupay?
If yes, did you pay separate fee for it?
 
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desiviru said:
Banks have to offer all variants and leave it on customers to choose as RBI asked banks the same last year.
Click to expand...
Not really!
Rbi has directed to issuers to allow customer to choose nw while applying and at the time of renewal. Rbi can't force issuers to launch all cc on all nws. That is a business decision.
 
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sidp said:
Not really!
Rbi has directed to issuers to allow customer to choose nw while applying and at the time of renewal. Rbi can't force issuers to launch all cc on all nws. That is a business decision.
Click to expand...
Most of cards are printed and issued at time of applying or renewed. So already to offer choice issuer have to have all 3 vairants now.
 
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desiviru said:
Most of cards are printed and issued at time of applying or renewed. So already to offer choice issuer have to have all 3 vairants now.
Click to expand...
That's not what the rbi guideline says. Earlier many issuers didn't give any option to choose from available nws. Now they should give this option at the time of issuance or renewal.
e.g. During issuance you can choose between mc world and visa signature RG. But rbi can't force hdfc to issue RG in diners, Just like it can't force to issue in visa platinum or mc world elite. These are business decision. RBI is a regulator not dictator.
 
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desiviru said:
Most of cards are printed and issued at time of applying or renewed. So already to offer choice issuer have to have all 3 vairants now.
Click to expand...
For debit cards - The RBI does not have any guidelines mandating which debit card network partner banks should choose.

For credit cards - The RBI has instructed banks to partner with at least two card networks. The majority of cards should be distributed across two networks. This requirement was introduced to avoid situations like when Mastercard faced a ban, leading banks such as Yes Bank, Axis Bank, RBL Bank and Federal Bank to temporarily halt issuing credit cards.

Credit Card networks often enter into exclusive agreements, which prevent banks from partnering with other networks. Such agreements are no longer allowed to be signed.

However, if an agreement was already signed for a period of upto 10 years, it remains valid.
 
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