Page 9 - Credit Card

RBI tightens norms for credit, debit cards used with business accounts

Last month, the RBI had ordered Visa to stop using an unauthorized route to make business-to-business card payments which used fintech companies as an intermediary

Banks must give customers choice to select credit card network: RBI

Some arrangements between card networks and issuers are 'not conducive' for customers, it says

RBI directs credit card issuers to give users choice of other networks

RBI on Wednesday said issuers of credit cards shall not enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks

Growth in unsecured loan remains strong despite hike in risk weighting

Recently, the RBI reiterated its concern on the elevated unsecured lending portfolio of banks in its Bulletin

Barclays agrees to sell $1.1 billion of US credit card debt to Blackstone

Barclays said the agreement reflected its recently-announced strategy to prioritise growing lending to consumers, and would reduce the bank's risk weighted assets by around 1 billion pounds

Credit card issuance: HDFC Bank widens gap with nearest rival SBI Card

The total number of credit cards in circulation was 99.5 million in January 2024, steadily rising from 97.9 million in December 2023

StanChart to continue focus on wealth management in India: Senior executive

Credit card 'core business' but will avoid competing with the country's private banks, says Kusal Roy

HDFC Bank first lender to issue 20 million credit cards, shows data

HDFC Bank is the largest issuer of card issuers in the country, which commands over a fourth of the overall cards market in terms of numbers

Indian Bank inks pact with FPL Tech to launch co-branded credit card

Public sector Indian Bank has partnered with FPL Technologies, to launch the Indian Bank One Co-branded Credit Card, the bank said on Friday. Leveraging the Visa and RuPay platforms, the cards would be issued by Indian Bank and managed by FPL Technologies. The partnership brings in Indian Bank, FPL Technologies, NPCI, and VISA, signaling a synergy of expertise, innovation, and commitment toward providing customers with unparalleled services in the credit card domain. "The launch of the Indian Bank One Co-branded credit card exemplifies our commitment to offering cutting-edge digital solutions to our customers. As one of the oldest public sector banks, we are excited to offer our users a new-age digital experience and extend our credit card offerings to a wider audience," Indian Bank MD and CEO Shanti Lal Jain said in a statement. "This collaboration will allow us to stay at the forefront of the industry offering our customers the latest advancements in credit solutions reinforcing

RuPay credit cards could help SBI Cards gain share on UPI spends

One gamechanger could be increasing penetration of RuPay cards, which run on the UPI platform

Not mentioning L/C no. on invoice is not a discrepancy, says expert

Provided all the stipulated documents are received by the issuing bank, the absence or mistyping of a credit number does not constitute a reason for refusal

Credit card spending in India rises to Rs 1.78 trn in Oct, sets record

Industry likely to see loan growth moderating after RBI asks banks, NBFCs to increase risk weight for unsecured lending

88% of Industry leaders believe card tokenisation enhanced security: Report

RBI introduced Card-on-File Tokenisation (CoFT) in September 2021 and began implementation on October 1, 2022. So far, over 56 crore tokens have been created

HDFC Bank revises Regalia CC lounge access program, to depend on spending

On reaching the quarterly milestone, the customers are eligible for just two complimentary lounge access vouchers. Post which, the access will depend on the credit card spending of the cardholders

How can an ultra-premium card provide access to a world of privileges to those who live out of their suitcase?

For a discerning globe-trotter, AURUM can significantly enhance the overall travel experience. Read on to find out more.

Customers can now choose from multiple card networks from October 1

As per the notification, the card issuers must issue cards across more than one network and give their customers the option to choose from them

SBI Cards likely to gain as higher spending expected in third quarter

The four largest players are HDFC Bank, SBI Cards, ICICI Bank and Axis Bank and they hold 70 per cent of outstanding cards and receive about 75 per cent of spends

Six steps to improve your credit or CIBIL score, check steps below

Your CIBIL score plays a key role when you go for loan requests as it will help you get loans at easy interest rates and along with other benefits. Here are the six tips to improve your credit score

Credit card spending surges to record high in India in sign of stress

Record-low rates offered to meet pent-up demand has seen banks' retail loan portfolio double between 2019 and now, raising concerns among policymakers

Poonawalla Fincorp gets RBI nod to issue co-branded credit card

Poonawalla Fincorp, a Cyrus Poonawalla group- promoted NBFC, has received Reserve Bank of India's approval to issue co-branded credit card with IndusInd Bank. The company envisages to launch this credit card within three months, Poonawalla Fincorp said in a statement. This partnership will enable Poonawalla Fincorp to usher in a new age of flexible and versatile retail credit, it said.