Mastercard ban: These 7 lenders are going to be hit hard by RBI's decision

Among credit card issuers including co-branded partners, RBL Bank, YES Bank and Bajaj Finserv lending will be most impacted, says Nomura

The Reserve Bank of India's (RBI) restrictions on Mastercard from issuing new cards will hit six banks and one non-banking finance company the most, as these lenders issue a large proportion of credit cards with the payment system operator.

All the credit cards issued by YES Bank and RBL Bank are in the Mastercard platform. Bajaj Finserv, has co-branded cards with RBL Bank and also issues cards with Mastercard as payment system operator.

RBL, in a statement on Thursday, said its run rate of issuing 100,000 cards a month ‘could potentially be impacted’ due to curbs on Mastercard. RBL has