InvestorQ : Will the RBI allowing HDFC Bank to issue credit cards impact the stock price?
swati Bakhda made post

Will the RBI allowing HDFC Bank to issue credit cards impact the stock price?

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Sam Eswaran answered.
4 months ago
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AT the outset, it is sentimentally a positive that RBI has finally allowed HDFC Bank to issue fresh credit cards. The curbs were imposed in December 2020 after there were several outages in the HDFC Bank online digital interface. However, only the curbs on issue of fresh credit curbs have been removed but the curbs on the Bank introducing new digital initiatives will continue for some time till the RBI is fully convinced.

HDFC Bank MD and CEO, Shashidhar Jagdishan, has officially confirmed that they had complied with 85% of the RBI stipulations on technology aspects. Jagdishan admitted that the bank had lost market share in credit cards due to the ban, since it was the largest player in the credit market with SBI coming a close second.

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