Can you tell me about the recent aggressive retail strategy of HDFC Bank?

In fact, the latest retail push of HDFC Bank is actually coming on two fronts viz. credit cards and on retail loans. Let us talk about credit cards first. After the 9 month ban on new credit card issue was lifted by RBI, HDFC bank has signed a strategic tie-up with Paytm to issue co-branded cards.

HDFC Bank will get access to 30 crore Paytm digital customers as well as access to over 2.3 crore registered merchants. It is still the leader in cards, despite losing 2% market share in the last 9 months.

However, HDFC Bank is having a more aggressive view on retail lending overall. It plans to double retail lending book in next 2 years from Rs.3.75 trillion to Rs.8 trillion. That means; out of its total loan book of Rs.11.50 trillion, retail loans will contribute 55% of the total instead of just 45% currently. In the last couple of years,

HDFC Bank lost its mojo to ICICI Bank and SBI and it wants to recover that with an aggressive strategy under new management.