The card will likely be a Visa, as most credit cards provided by Federal banks or FIs Credit card are Visa. It may offer rewards, cashback, and lounge access at railways/airports.
Regarding the fees, it is unlikely that the card would be LTF. I agree with the suggestion that the fees could be waived off after spending a pre-determined limit.
Let’s keep our fingers crossed !
Unlikely the co branded card will be Axis which went live yesterday or any of the the 5 other banks. I am assuming the card will be issued in partnership with Federal Bank