Hdfc Bank aims to regain lost market share in 1 year after Rbi lifts credit card ban
HDFC Bank plans to regain market share in number of cards over the next year, a senior official said on Monday. The largest private sector lender by assets was cleared to issue new credit cards by the RBI last week, more than eight months after being banned from doing so over concerns over repeated technology outages.
Parag Rao, its group leader for payments and consumer credit, digital banking and IT, told reporters the bank has set milestones as it seeks to re-enter the market.
Rao added that during the ban, the bank lost its market share in number of cards but was able to maintain the market share on initiatives taken to encourage users to spend.
The bank certificate traded 0.57% at Rs 1,522.95 each on the BSE at 1318 hours against gains of 0.43% on the benchmark.
(Edited by : Priyanka Deshpande)