Banks
are now again in a mood to revise their credit card policies and make
this segment more attractive seeing to the current scenario where
delinquencies in credit cards have reduced.
“The
consumer spends are going up dramatically… Hence, we are seeing a
positive traction in the credit card market,” said Parag Rao,
Senior Vice-President, Credit Card, HDFC Bank.
Since
the start of current fiscal, about 3.60 lakh credit cards have been
issued by the banks in just three months amongst which HDFC Bank, SBI,
Axis Bank and Standard Chartered Bank have been major issuers.
“We
have seen growth in cards where the annual fee is low. We are also
planning to push the platinum and signature cards, targeting high net
worth individuals, because of their compelling value proposition,”
said Kadambi Narahari, CEO, SBI Cards and Payment Services Private
Ltd.
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