HDFC Bank draws up groundwork to regain credit card market share

Will come back with a bang once RBI lifts freeze, says bank

With the Reserve Bank of India (RBI) barring it  from issuing new credit cards, HDFC Bank says it is laying the groundwork for getting back to the market “with increased rigour”, once the embargo is lifted.

HDFC Bank remains the leading player in credit cards, but other players have been gaining market share at its expense in the past few months because of the RBI action.

According to RBI data, in the period between December 2020 and April 2021, HDFC Bank's credit card base contracted by 389,424, while ICICI Bank's credit card portfolio increased 815,480. SBI Card and Axis Bank added 437,226