Page 13 - Credit Card
HDFC Bank can rally 11% to a new high of Rs 1,750, suggest tech charts
Once the hurdle mark is decisively conquered on the higher side, the upside rally may see a new all-time high
 "HDFC Bank can rally 11% to a new high of Rs 1,750, suggest tech charts")
HDFC Bank shares gain as RBI lifts curbs on new credit card issuances
Shares of HDFC Bank on Wednesday rose nearly two per cent in early trade as investors cheered the Reserve Bank's decision to allow the lender to issue new credit cards. With the lifting of the eight-month-long ban on HDFC Bank with respect to selling new credit cards, its shares climbed 1.61 per cent to Rs 1,539.10 apiece after opening at Rs 1,550. The scrip touched an intra-day high of Rs 1,564.75 apiece on the BSE. The market capitalisation stood at Rs 8,51,282.53 crore. On the NSE too, similar trends were witnessed as the shares gained 1.60 per cent to Rs 1,538.95 and reached an intra-day high of Rs 1,565.35. The scrip opened at Rs 1,556.70 apiece. In a regulatory filing on Wednesday, HDFC Bank said the Reserve Bank of India (RBI), through its letter dated August 17, has relaxed the restriction placed on sourcing of new credit cards. The central bank had issued orders in December and February to HDFC Bank on certain incidents of outages in the internet banking /mobile banking/
 "HDFC Bank shares gain as RBI lifts curbs on new credit card issuances")
HDFC Bank gains 3% as RBI allows lender to issue new credit cards
However, RBI's ban on the bank introducing new digital initiatives will continue
HDFC Bank can start issuing credit cards again as RBI eases curbs
Ban on Digital 2.0 programme continues; bank ready with aggressive plan
 "HDFC Bank can start issuing credit cards again as RBI eases curbs")
RBI allows HDFC Bank to issue new credit cards: Report
However, RBI's ban on the bank introducing new digital initiatives will continue, a source told Reuters
Mastercard profit beats estimates on consumer spending, travel boost
Mastercard saw improved strength in travel between the Unites States and Latin America, as well as an increase in travel within Europe, Miebach said on a conference call.
 "Mastercard profit beats estimates on consumer spending, travel boost")
Should you ditch your credit card and consider 'buy now, pay later'?
Several players, such as LazyPay, Capital Float, and ZestMoney, to name a few, offer it
 "Should you ditch your credit card and consider 'buy now, pay later'?")
ICICI Bank ups ante in credit card space with fuel discount offering
Upping its game in the credit card market where it has been closing in on its bigger rival HDFC Bank, ICICI Bank on Tuesday launched a co-branded offering that gives discounts on fuel purchases.
 "ICICI Bank ups ante in credit card space with fuel discount offering")
RBI's move to ban Mastercard from issuing new cards may hit 5 private banks
Bajaj Finserv and SBI Cards also impacted
 "RBI's move to ban Mastercard from issuing new cards may hit 5 private banks")
Credit card buys seen 8% lower in Apr-June quarter, say analysts
Among players in the credit card segment, HDFC Bank, despite a ban on issuing new credit cards, retained a sizeable, and, perhaps, the largest market share in spends, at 27 per cent in May.
 "Credit card buys seen 8% lower in Apr-June quarter, say analysts")
Magma Fincorp plans to enter into co-branded credit card business
Magma Fincorp on Friday said it plans to enter into an arrangement for issuance of co-branded credit cards
 "Magma Fincorp plans to enter into co-branded credit card business")
RBI ban on new credit cards sale hit market share, says HDFC Bank
The bank promised to get back to the market "with a bang" once the "temporal" embargo is lifted
 "RBI ban on new credit cards sale hit market share, says HDFC Bank")
Half of India's working population of 400 mn people credit active: Report
Credit institutions are fast approaching a saturation level in new customers as over half of the borrowers are from the existing customer base of a bank: report
 "Half of India's working population of 400 mn people credit active: Report")
PE major Carlyle to sell 5.1% stake in SBI Cards on Friday
A total of 48 million shares of the credit card company will be on offer in the range between Rs 1,002 to Rs 1,041.3 per share
 "PE major Carlyle to sell 5.1% stake in SBI Cards on Friday")
HDFC Bank draws up groundwork to regain credit card market share
Will come back with a bang once RBI lifts freeze, says bank
 "HDFC Bank draws up groundwork to regain credit card market share")
Amazon explores replacing JPMorgan as issuer of co-brand credit card
American Express Co. and Synchrony Financial are among those bidding on the portfolio.
 "Amazon explores replacing JPMorgan as issuer of co-brand credit card")
CredR to ride deeper into small towns on rising demand for used 2-wheelers
The used two-wheeler firm is in talks for fundraising, plans to double showrooms
 "CredR to ride deeper into small towns on rising demand for used 2-wheelers")
RBI bars American Express, Diners Club from onboarding new customers
The central bank said the card companies did not adhere to guidelines on local data storage
 "RBI bars American Express, Diners Club from onboarding new customers")
Cash-strapped patients with Covid-19 infection can consider loans
In a health emergency, speed of disbursement is more important than cost
 "Cash-strapped patients with Covid-19 infection can consider loans")
Citi's exit from retail banking an opportunity for Indian banks: Analysts
Among its various business verticals, analysts say Citi's credit card business will be most sought after by suitors
 "Citi's exit from retail banking an opportunity for Indian banks: Analysts")
