RBI ban on new credit cards sale hit market share; will come back with a bang once the ban is lifted said HDFC Bank

RBI’s new ban on selling credit cards has impacted the market on an increasing basis.

HDFC Bank stated on Wednesday, that they are promising to get back on the market with a “bang” once the ban is lifted to cope up with the losses. RBI ban on new credit cards sale hit market share; will come back with a bang once the ban is lifted said HDFC Bank

Parag Rao, the HDFC bank’s head of digital banking, IT, consumer finance said that for the last six months they are trying to “re-design, innovate, self-analyse” the credit cards business which has over 15.5 million customers.

Parag Rao said that the bank has lost its market share by a couple of percentage points because of the embargo, but the measures taken internally have made sure that it will continue to hold on to market share by spends.

 

 

 

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