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Complied with 85% of tech demand, RBI to take call on lifting ban on issuing credit cards: HDFC Bank s Jagdishan
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HDFC Bank rose 1.20% to Rs 1,498.45 after the private lender s advances aggregated to approximately Rs 11,47,500 crore as of 30 June 2021, rising around 14.4% over Rs 10,03,300 crore as of 30 June 2020.The bank s advances grew around 1.3% as of 30 June 2021 from Rs 11,32,800 crore as of 31 March 2021.
As per the Basel 2 segment classification among the bank s advances, the domestic retail loans as of 30 June 2021 grew by around 10.5% over 30 June 2020 and remained at a level similar to that as of 31 March 2021. The domestic wholesale loans as of 30 June 2021 grew by around 17% over 30 June 2020 and around 2% over 31 March 2021.
Among loan categories, the retail loans grew by around 9% over 30 June 2020 and were lower by around 1% as compared to 31 March 2021. The commercial & rural banking loans grew by around 25% over 30 June 2020 and around 4% over 31 March 2021; and other wholesale loans grew by around 10.5% over 30 June 2020 and around 1.5% over 31 March 2021.
HDFC Bank has road map for a big comeback in cards
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HDFC Bank is all set to return to the credit card market with a bang once the Reserve Bank of India (RBI) lifts the ban on issuing new cards.
ANI
HDFC Bank is all set to return to the credit card market “with a bang” once the Reserve Bank of India (RBI) lifts the ban on issuing new cards, said a senior executive. The bank is looking to make up for its lost market share by cross-selling to liability and other asset customers.
“Normally, 75% to 80% of our cards are via cross-selling opportunities to internal asset and liability customers and that will continue. We have 50 million customers but just 15 million credit cards. Though that gap will remain due to our strict credit policy, we have an opportunity to cross-sell given our growth in liabilities and other assets of the bank over the last seven months,” said Parag Rao, group head-payments, consumer finance, digital banking and IT at HDFC Ban