HDFC Bank Says Strategy on Credit Card, Prepared After Banning

HDFC Bank is set to enter the market with a new strategy ahead of the festive season. This information was provided by HDFC Bank CEO Shashidhar Jagadeeshan. HDFC Bank will soon begin offering a mix of existing and new cards to customers, he said. Shashidhar Jagadeesan told the employees of the bank. Let us tell you that the RBI has banned the issuance of HDFC Bank’s new credit cards. The ban has now been settled.

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.

Banks will remain closed for the next 5 days. Muharram is a holiday in these states.

Let us tell you that HDFC Bank has solved the constraints imposed by the Reserve Bank of India (RBI) to issue new cards. The RBI issued orders in December and February to ban the issuance of new credit cards due to interruptions in HDFC Bank’s internet banking, mobile banking and payment services over the past two years. “We would like to inform you that the RBI letter dated August 17, 2021 has relaxed the restrictions imposed on the issuance of new credit cards,” the bank told the stock exchange.

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