Recently, the Reserve Bank of India has granted HDFC Bank another credit card. Since then the bank has been devising various strategies to make a comeback in the market. According to news agency Reuters, a company official said that in the next one year, the company will try to hold back the market.
HDFC Bank Payments, Consumer Finance, Digital Banking and IT Head Parag Rao said the bank has set some goals for itself. This will enable them to make a comeback in the market. Rao said the bank tries to issue 3 credit cards every month. Let us tell you, in November 2020, the bank issued 3 lakh new credit cards.
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That’s what the CEO said
“In the coming months, we will aggressively market not only with our existing credit cards, but also with other partners,” the bank’s CEO said. Yes, we have lost consumer market share in the last 9-10 months, but I am sure everything will be fine in the next few days. Shashidhar Jagadeesan said that I am aware that the restrictions of the past 9-10 months are not easy for all of you. You guys are an inspiration to me. I think my luck is in leading the team.
Why the ban?
HDFC Bank on December 3, 2020, informed the Stock Exchange that the RBI has ordered HDFC Bank Limited on December 2, 2020 to address the difficulties faced by the Bank in Internet Banking / Mobile Banking / Payment Banking over the past two years. Bank’s Internet Banking and Payment System due to power outage recently at Primary Data Center on 21 November 2020.
The LIC’s policy remains in place, so the policy has to be restarted until October 22, with the campaign starting today