Credit Card Business

Axis Bank will acquire Citigroup's India consumer business for $1.6 billion. Citigroup will transfer 3,600 employees to Axis Bank. Citigroup-Axis Bank deal closure period is January-June 2023. Listen in to Axis Bank's management commentary about the deal contours and plans post the deal completion.

Ideas For Profit | HDFC Bank

With partial lifting of ban, HDFC Bank is back in the game as far as credit cards business is concerned. The audit of the bank’s IT systems is also complete and the matter should get fully resolved soon. The bank now embarks on its digital journey, driving the stock price upwards.

SBI Cards asset quality improves in Q1; a good proxy play on economic recovery

The novelty factor, along with solid market position, growth prospects, strong parentage and superior return ratios, makes SBI Cards a worthy bet

HDFC Bank FY21 earnings confirm that the strong has become stronger

Asset quality and growth are the two big issues confronting banks today. Remarkably, HDFC Bank scored well on both these parameters, remaining almost pandemic-proof

Will HDFC Bank’s brake on credit card sourcing translate into business gains for SBI Cards?

While the stock price of SBI Cards has recovered almost 70 per cent from the low seen in May, it is still just 9 per cent above the issue price

IndusInd completes acquisition of RBS bullion financing biz

Hinduja Group-promoted IndusInd Bank on Monday said it has completed acquisition of Royal Bank of Scotland's diamond and jewellery financing business in the country.

RBI issues new guidelines on concurrent auditing at bank

The concurrent audit system is regarded as part of a bank's early warning system to ensure timely detection of irregularities and lapses.

ElectraCard Services ties-up with IndusInd Bank

Private sector lender, IndusInd Bank, on Thursday said it has signed an agreement with ElectraCard Services (ECS), to extend technology and processing services for its credit card business.

Kotak Mahindra sees 30% rise in credit cards sales in 2 yrs

Kotak Mahindra Bank, that entered the credit card business in 2007 as part of its retail expansion, expects the portfolio to contribute around 25% to 30% to the overall income in the next two years, a top executive of the private lender said.