InvestorQ : What are the banks that are likely to be hit by the restrictions on Mastercard?
Rutuja Nigam made post

What are the banks that are likely to be hit by the restrictions on Mastercard?

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5 months ago
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Mastercard is one of the oldest and popular franchises in India and this move by the RBI to ban fresh issue of cards by Mastercard is likely to hit several Indian banks hard. The hit will be the sharpest on a number of banks in India that are largely dependent on Mastercard franchise. IN fact, some of them are wholly dependent on the Mastercard franchise.

All credit cards issued by RBL Bank and Yes Bank are currently on the Mastercard platform. Among the other larger private sector banks, HDFC Bank has nearly 60% cards on Mastercard platform. Similarly, ICICI and Axis have 35-40% of their cards on the Mastercard franchise platform. This ban will impact new card additions although some like RBL Bank have already made an immediate shift to Visa platform.

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