Novus Loyalty Ltd Wins Major Contract with Central Bank Of India for Digital Loyalty Programs
Novus Loyalty Limited announced the execution of a Service Level Agreement (SLA) with the Central Bank Of India. The agreement, formalized on April 16, 2026, centers on providing comprehensive loyalty rewards program management across the bank’s extensive digital infrastructure.The contract was awarded following a bid process via GeM RFP Bid No. GEM/2025/B/6413323. The scope of work involves the end-to-end deployment, management, and migration of loyalty and rewards programs. These programs cover various digital channels, including Debit Cards, UPI, Internet Banking, and Mobile Banking.
Novus Loyalty Limited stated that this engagement represents a significant strategic win in the BFSI segment. The Company expects this partnership to further strengthen its position within the digital payments and banking ecosystem, enabling it to scale its technology-driven customer engagement platform.
Contract and Financial Details
The services agreement details are as follows:| Parameter | Detail |
|---|---|
| Awarding Entity | Central Bank Of India (Domestic) |
| Nature of Contract | Order pursuant to GeM RFP and execution of Service Level Agreement (SLA) |
| RFP/Tender ID | GEM/2025/B/6413323 |
| Contract Duration | 3 years |
| Total Estimated Value | Approximately ₹88 Crore over the contract tenure |
| Initial Purchase Order (PO) | ₹7,32,24,015/- |
| Core Services Covered | Managing loyalty rewards programs across multiple digital channels, platform deployment, program management, and ongoing support services. |
The contract mandates the handling of loyalty rewards programs across multiple digital touchpoints, including the migration of the existing program and the provision of ongoing support. The Company noted that the Central Bank Of India is a domestic entity, and neither the promoter nor the promoter group has any interest in the awarding entity.
Stock Price Movement
As of 09:26, Novus Loyalty Ltd shares are edging higher, currently trading at ₹190.00, up 5.58%. Throughout the session, the stock moved between an intraday low of ₹184.50 and an intraday high of ₹195.00.Source:
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