Size of Indian Credit + Debit Card Market for CY 2011

by

Authentic Data is so essential for Business Analysts and in the light of the same we are going to provide to you some Authentic Data on the Size of Credit Card and Debit Card market in India for Calendar Year 2011.

Firstly, we have uploaded Data on Credit Card and Debit Cards issued by each bank in India for CY 2010. CY 2011 data [Dec-31st 2011] is with us and is used in this analysis. India had 17.67 Mn Credit Cards and 26.37 Mn Debit Cards in Circulation. Breakup of Cards as shown in CY 2010 for CY 2011 is available on request.

  • Credit Card Spend by Indians in 2011 Rs 90,872 Cr [$18.17 Bn at an exchange rate of 1 USD = Rs 50]compared to Rs 71, 461 Cr in 2010 [$14.29 Bn].
  • Debit Card Spend by Indians in 2011 was Rs 49,761 Cr [$10 Bn ] compared to Rs 35,445 Cr [ $ 7.08 Bn] in 2010.

    • Read moreSize of Indian Credit + Debit Card Market for CY 2011

HDFC Credit Cards – Convert Your Big Ticket Purchases into EMIs Online

by

Private Banks in India such as HDFC and ICICI embraced technology and a new theme of banking has emerged in the past decade which is based on Web and Mobile Platforms. Today, we’d like to educate readers on the new facility rolled out by HDFC Banks Online Credit Card section for customers where they can easily convert their Big Ticket Purchases into EMIs by just few clicks and in a totally transparent way. [ We are aware of Options that are available to Customer to make Purchases with EMI, but this is something new, which lets you convert into EMIs after you have done the Purchase] You can read FAQs on Credit Card EMI here.

This Month, May-2012, HDFC Cards section of the HDFC Bank website has

Read moreHDFC Credit Cards – Convert Your Big Ticket Purchases into EMIs Online

What is an EMI on Credit Card Purchase ?

by

Many of us know in General what an EMI is but what most do not know the difference of availing EMI on a Credit Card vs that on Personal or any other form of Loans.

Lets suppose you BUY a new Sony LCD TV Costing Rs 50,000 to enjoy the ongoing IPL Season. However, your monthly take home salary of Rs 75,000 may not help you pay the next credit card bill which has this Big Ticket Purchase of Rs 50,000. So what is the way out ? 3 Letter Word EMI. – Equated Monthly Installment. Banks have tied up with Retailers and are increasingly pushing for EMIs on Consumer Durable Products.

So what is EMI on your Credit Card Account ?
Lets assume that you have a ICICI Bank Credit Card with

Read moreWhat is an EMI on Credit Card Purchase ?

Are Indian Credit Card Reward Points Really Rewarding ?

by

Indian Credit Card Operators for quite sometime have been offering Reward Points on Consumers Spending at Merchant Establishments [You don’t get reward points on Cash Withdrawals or Loans on Call]

HDFC Gold Credit Card was offering 1 Point for every Rs 50 Spend in 2006 which later got revised to 1 Point for Rs 100 and now it stands at 1 Point for Rs 150. Axis Silver Credit Card offers 1 Point for every Rs 100 spend. So if you had spent Rs 10,000 in a billing cycle you would accumulate 67 Points on HDFC Gold Card and 100 Points on Axis Silver Card.

Now when you have accumulated enough points,

Read moreAre Indian Credit Card Reward Points Really Rewarding ?

25% of Complaints to RBI from Debit / Credit Cards of Banks

by

We have obtained information from the RBI on the Number of Complaints received by the Regulator on various parameters involving Debit & Credit Card Operations.

RBI said that a total of 17,116 complaints were filed by consumers in FY 2010-11 involving Unsolicited credit cards, Charging of annual fee in spite of being offered as free card, Wrong Billing, Excessive Charges, Non-dispensation of money

Read more25% of Complaints to RBI from Debit / Credit Cards of Banks

High CIBIL Score Must For Loan Approval in India

by

With the establishment of CIBIL, Banks have taken a breather as Fly By Night Loan takers and defaulters have been permanently banned from extending Loan facilities. Harshal Chandorkar, VP of CIBIL said that according to Data Mined by them, Banks and Financial Institutions are Approving Loans for Customers with

Read moreHigh CIBIL Score Must For Loan Approval in India