Private lender RBL Bank resumes credit cards issuance to new customers

After signing a pact with Visa, now private lender RBL Bank has resumed issuing credit cards to its new customers. It plans to issue 1.2-1.4 million cards in the current financial year (FY22).
 
Its credit card business faced disruptions in July after the Reserve Bank of India placed curbs on Mastercards on on-boarding new domestic customers for breaching norms for data storage. Mumbai-based lender which has a 5 per cent market share in credit cards in India.
 
In July, the bank had indicated that curbs on Mastercards could potentially impact the current run rate of about 0.1 million