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Private sector lender HDFC Bank has issued 4 lakh credit cards since the Reserve Bank of India lifted the embargo.
“The record issuance is as of September 21, 2021 and marks the aggressive growth path the bank has charted post the embargo to re-invent and co-create its credit cards portfolio with strong products and partnerships,” the lender said on Wednesday.
Relaunching cards
The bank also announced the relaunch of three cards, including HDFC Bank’s Millennia, MoneyBack+ and Freedom. The new card variants will be available to customers in October 2021.
“We are now pushing the pedal not only to acquire new customers, but also to enhance offerings of our existing cards,” said Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank, adding that the bank is ready to unveil best in class offerings and experience to our customers, just in time for festive season.
The RBI had, on August 17, relaxed the restriction placed on the private sector lender on sourcing of new credit cards, which it had imposed eight months earlier in December 2020.
HDFC Bank had then said it would come back with a bang in the credit card space.
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