new delhi sbi cards payment services has started sending out text messages to its fashion at big bazaar fbb cobranded credit card users that they may not be able to redeem fbb vouchers due to the unforeseen closure of future group storesthe development comes in the wake of a rs 5322crore default by the retailer which missed the due date for repayment to lenders as a result of the ongoing legal battle with us etailer amazon among other issuessbi cards operates as a joint venture between private equity firm carlyle and the state bank of india sbi which is one of the biggest lenders to the cashstrapped kishore biyaniled retailerin addition big bazaar parent future retail frl lost around 900 stores in february to reliance industries which had earlier subleased these to the retailer reliance had moved in to take control of the premises including issuing offer letters to frl employees after the latter failed to pay up accumulating rentalstoi was the first to report about the development in its february 26 edition a frl spokesperson did not comment for this story while a questionnaire emailed to sbi did not elicit a response by the time of this edition going to printsources however said sbi card has been trying to move its fbb cobranded card users to other cards for some time now they may exit the cobranding initiative altogether now said a person familiar with the development last year frl which operates various retail formats across india including big bazaar koryo foodhall and easyday had entered into a onetime restructuring otr scheme for companies impacted by the pandemic with a consortium of banks and was under obligation to raise rs 3900 crore before march 31 2022 by way of equity contribution it is currently entangled in a longdrawn legal battle with amazon