THIS bank issued the most credit cards in January-March 2021 quarter

New Delhi: ICICI Bank added a document variety of credit cards prospects in the quarter ended March 2021, courtesy of a ban on credit card issuances by HDFC Bank.

The non-public lender’s credit card buyer base jumped by 672,911 between January to March 2021, in line with the newest knowledge printed by the Reserve bank of India (RBI). 

It is necessary to notice right here that the RBI had barred HDFC Bank from providing any new digital banking initiatives and credit card issuances until the time it rectifies the glitches in its methods. These glitches led to a number of outages in its web and cellular banking service in the previous two years.  

Meanwhile, IDFC First Bank, a brand new entrant in the credit card sector, efficiently added over 1.5 lakh prospects in the fourth quarter of the monetary yr 2020-21. Overall, the bank issued 175,753 cards in three months. 

IDFC First Bank ranked fourth in the record of most credit cards issued in This autumn FY21.ICICI Bank, SBI Card and Axis Bank had been the high three banks in issuing credit cards in the stated interval. 

IDFC First Bank is utilizing two distinctive choices: dynamic internist charge and interest-free money advance for the first 48 days. The bank can be providing revolving credit to woo new credit card prospects. 

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