Desk note · industry · Consumer apps / payments
Eternal Ltd, owner of Zomato and Blinkit, teamed with SBI Card on 15–16 October 2026 to offer early-access sign-ups for a co-branded credit card that promises instant discounts across the group’s apps, with applications opening from 22 October on Mastercard and RuPay networks.
On 15 October 2026, Eternal Ltd and SBI Card announced a co-branded credit card aimed at customers who already order food, groceries, and experiences through Zomato, Blinkit, and District. From 16 October, logged-in users could tap in-app banners to request early access with Aadhaar-linked name and phone verification. General applications are scheduled to open from 22 October 2026 in phases. The card will run on both Mastercard and RuPay rails, with a fully digital application path inside the consumer apps or on SBI Card’s website. Eternal chief financial officer Akshant Goyal said the product is meant to reward high-frequency everyday spends inside the group’s ecosystem while still offering benefits beyond those brands.
Quick-commerce and food-delivery platforms want payment products that keep rewards inside their apps instead of sending users to generic bank portals. A co-brand with India’s largest standalone credit card issuer gives Eternal scale on underwriting and collections while SBI Card taps young urban spenders who may not bank with its parent lender. Discount-led cards work when users consolidate dining, grocery, and entertainment bills on one plastic to hit monthly caps efficiently. Reporting on the launch cites instant discounts subject to a combined ceiling of about ₹2,000 per month across participating brands, so heavy users should read the fine print on category limits and partner exclusions.
If you already use Zomato or Blinkit weekly, compare the Eternal card’s reward math with your existing cashback or points card before switching autopay links. Check annual fees, finance charges, and whether RuPay acceptance fits your travel and online shopping mix. Competing apps and banks may respond with richer grocery or dining offers during the festive quarter. Watch the 22 October rollout for approval rates, delivery timelines for physical cards, and whether regulators raise any data-sharing questions on in-app credit onboarding.
Telecom / IPO
On 22 October 2026, exchange data showed Jio Platforms’ ₹30,213 crore issue had drawn about ₹3.73 lakh crore of total bids by late evening on Day 2, with the retail portion oversubscribed and market commentators citing diverted cash from other listed stocks during the book build.
SEBI / market infrastructure
On 22 October 2026, the Securities and Exchange Board of India proposed letting stock exchanges and depositories fund core-market and regulator-mandated initiatives without prior approval for each ticket, while keeping board oversight and financial safeguards and inviting comments until 12 November.
E-commerce / food delivery
On 22 October 2026, reporting said Flipkart is testing an internal food delivery product called Eat-in by Minutes with more than 8,000 employees in Bengaluru, using Ekart logistics as it prepares to compete with Zomato and Swiggy in meal delivery.
Digital trust / compliance
On 22 October 2026, eMudhra Ltd said its board will voluntarily withdraw from the global SSL/TLS certificate segment after a key-security incident on eight intermediate certificates, citing compliance cost and weak economics while stressing that other digital-trust services continue.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.