HDFC Bank Issues Over 4 Lakh Credit Cards Since Lifting Of Ban

HDFC Bank issued more than four lakh credit cards issued since the Reserve Bank of India (RBI) lifted the ban on issuing new ones. The country's largest private lender also announced the  relaunch of three cards - HDFC Bank's Millennia, MoneyBack+ credit card as well as Freedom credit card with several new features and benefits for cardholders. 

The new card variants will be available to customers by next month, said HDFC bank. The existing Freedom and Millennia card holders will be able to reap the new benefits and will also be notified by the bank.

The record issuance of new credit cards registered by the bank is as of September 21, 2021, according to a statement by HDFC Bank today.

''We are now pushing the pedal not only to acquire new customers, but also to enhance offerings of our existing cards. Our strategy to re-invent, create and co-create has been crafted based on the analysis of customers' buying behaviour, the categories they spend on and the spend patterns,'' ” said Mr Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank.

''The months that we have spent readying and sharpening our strategy are now bearing fruit. We are now ready to unveil best in class offerings and experience to our customers, just in time for festive season,'' added Mr Rao. 

Earlier in August this year, the central bank lifted the eight-month long ban on HDFC Bank from issuing new credit cards.

On Wednesday, September 29, shares of HDFC Bank were last trading 1.05 per cent lower at Rs 1,598.95 on the BSE. HDFC Bank opened on the BSE at Rs 1,590, touching an intra day high of Rs 1,603 and an intra day low of Rs 1,584.95, in the trading session so far.