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Credit Card Market In India
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FinoGuy
TF Legend
Aam jindagi vs mentos jindagi 🤣
blacktiger
TF Premier
same with bob financial
Strange
TF Prestige
I don't think so.
"BoB Financial Solutions Limited was established in the year 1994. It is a Non-Banking Financial Company, wholly owned by Bank of Baroda, one of the top banks of India."
reference https://www.bobfinancial.com/aboutus.jsp
blacktiger
TF Premier
isnt sbi cards too owned by sbi?
Strange
TF Prestige
State Bank of India held 60% share in SBI Cards & Payment Services Limited (SBICPSL) and 40% share in GE Capital Business Processes Management Services Limited (GECBPMSL). GE Capital held 60% in GE Capital Business Processes Management Services Limited and 40% in SBI Cards & Payment Services Limited.
In 2017, GE Capital exited its JV with State Bank of India as a part of its global strategy to exit financial services sector. Following this development, State Bank of India increased its share to 74% and The Carlyle Group invested 26% in both the entities while replacing GE Capital. SBI Card is now a listed company on India's BSE and NSE stock exchanges
AsB
TF Legend
Perhaps, the reason why PSU banks and their Credit Card department are different because,
Unlike Private Banks, they did not have the necessary infrastructure when Credit cards entered India.
Unlike Private Banks which are profit oriented, Public Banks cannot just give away cards, based on accounts, just like they open accounts of anyone like PMJDY accounts. So, by listing different companies, they may incur losses on Accounts (which they barely do ,except some PSU banks), but also they can analyze each person's ability to pay back loans and give them credit. By doing so, branch managers/employees cannot also manipulate the applications by taking black money.
Since they are Govt. backed, they can raise more money by having double IPOs
Unlike Private Banks, they did not have the necessary infrastructure when Credit cards entered India.
Unlike Private Banks which are profit oriented, Public Banks cannot just give away cards, based on accounts, just like they open accounts of anyone like PMJDY accounts. So, by listing different companies, they may incur losses on Accounts (which they barely do ,except some PSU banks), but also they can analyze each person's ability to pay back loans and give them credit. By doing so, branch managers/employees cannot also manipulate the applications by taking black money.
Since they are Govt. backed, they can raise more money by having double IPOs
In cc market with their poor rewards still icici market share is more🤔
AsB
TF Legend
Amazon Pay ICICI Card rocks.
Because of their rural and semi urban presence with Platinum LTF given away like candies
Yes both apay and platinum dominated the market
Till today I get YouTube reco for free platinum
Of the 90.08 cr debit cards issued which roughly coincides with 75crore acc (multiple accs) almost 10%+ of the acc holders have credit card
While this is the norm while PSU banks have a measly approx 3% have credit carddls while the me no for private banks is 28% which implies atleast every 4 th customer of private bank hold credit card (it's more than that actually)
For HDFC this percentage is 43% that means you're 14 times more likely to get credit card from HDFC than with PSU
Ofcourse acc isn't mandatory for credit card but still acc to industry standards atleast 80% have both cc and acc with same bank and this would not be the case with HDFC and ICICI
so the spends also reflects the same ....
So if you want a card go for a private bank and that too with HDFC /ICICI ...that's easy to get one 5han a PSU
AsB
TF Legend
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