HDFC Bank to issue 300,000 credit cards a month to regain lost market share

Will raise issuance to 500,000 credit cards per month beginning February 2022

With the Reserve Bank of India (RBI) lifting the embargo on HDFC Bank on issuing new credit cards, the lender is now looking to get back to its pre-embargo run rate of issuing 300,000 cards per month in the next 2-3 months. Immediately following that, it will look to issue 500,000 credit cards every month beginning February 2022.

HDFC Bank is expecting to regain its lost market share in the outstanding credit cards space in the next 3-4 quarters.  At the end of last November (pre-embargo), HDFC Bank had 15.38 million outstanding credit cards in the market, but this number