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CARDS & PAYMENTS | Cesar Tordesillas, India

HDFC Bank aims 1 million new credit cards in 2012-13

HDFC Bank launched its credit cards for doctors' specific needs, as part of its plans to launch total one million credit cards in current fiscal.


The credit cards for doctors--Superia and Platinum have been designed to cater to the lifestyle, travel and other needs of doctors.

HDFC Bank, Business Head ( Credit Cards & Merchant Acquiring Services) Parag Rao said that 8.4 lakh are registered doctors in the country as per Medical Council of India while 35,000 become new doctors every year.

"Healthcare sector in India stands at USD 17 billion and it is growing at a rate of 13 per cent," he said.

Claiming to be one of the largest players in credit cards business in the country, Rao said that HDFC bank had a credit card customer base of 5.60 million as on March 2012.

"We are adding 90,000 to 100,000 credit cards every month which is more than the double of what credit card industry is doing," he said.

HDFC bank has plans to launch 1 million new credit cards in current fiscal in line with its strategy to further penetrate the credit card business.

"We have plans to launch 1 million new credit cards in 2012-13 which is more than what we launched last fiscal," he said.

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