my bad i got confused with HSBC
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Standard Chartered Debit Card Devaluation effective 01 Feb 2024
- Thread starter culx@100
- Start date
No worries mate ..
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Zindabad, not jindabad. Z, not J.
Sir, if you could graciously indulge me, I would most respectfully like to present a different view. HDFC is big in market cap only due to its inflated share price. The more important benchmark is the total assests that a bank has. On this scale, HDFC doesn't even rank in the top 100. Biggest Indian bank is SBI with assests of $ 650 billion while HDFC is at 300 odd billion. Standard Chartered is bigger than both with assests of over 800 billion. The top banks have assests in several trillion $. HDFC isn't even 1/20th the size of the top global banks.
List of largest banks - Wikipedia
I didn't look into details yet..Sir, if you could graciously indulge me, I would most respectfully like to present a different view. HDFC is big in market cap only due to its inflated share price. The more important benchmark is the total assests that a bank has. On this scale, HDFC doesn't even rank in the top 100. Biggest Indian bank is SBI with assests of $ 650 billion while HDFC is at 300 odd billion. Standard Chartered is bigger than both with assests of over 800 billion. The top banks have assests in several trillion $. HDFC isn't even 1/20th the size of the top global banks.
List of largest banks - Wikipedia
en.m.wikipedia.org
it seems these assets are banking business assets rather than Bank owned assets..
because how come scb has market cap of 30 billion with 800 billion assets..
So anyway coming back to the original question..
As you pointed out correctly there are different benchmarks we can take into consideration..
Generally market cap is much more reliable and no company will be valued much more higher than what it's worth on a long term basis..yes there will be manipulation to some extent short term..
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T
They won't. Abhishek has been trying for that since 2022. Tagging HDFC in Twitter, sending emails to them about cc bill cashback via platinum etc but they never cared to check and patch it. So hopefully won't in the future
they wont listen to abhishek
when the cost of credit starts pinching them thats when it will happen
thats why credit cards got devalued
I am sorry.. what Abhishek is trying to do here? and what’s his intention behind that.. I am not aware of this background.. thanks
Honestly, I do not know. He extensively promotes Rupay and finds all the loopholes and tricks and also try to help the banks to patch it
Abhishek012
TF Pioneer
Arey waah mere bare me baate ho raha hai.
Dekho bhai HDFC India me bahot bada bank ka aur customer base bahot jada hai.
dusra, ispar bhi depend karta hai HDFC bank kitna loss kar raha hai debit card pe 1% CC billpay de kar.
I dnt know exact number but agar 0.5% bhi HDFC bank ko BBPS and billdesk se MDR mil raha hai toh profit me he hai.
Kyunki HDFC debit card maximum places me reward/cashback nhi deta hai and log woha use karte hai.
dusri baat HDFC bank ka almost saare payment gateway se tieup hai HDFC bank khud bhi acquirer bank bhi hai. Jisse bhaot se MDR fee save kar leta hai.
2 din pahele he yeh tweet dekha isbande ne HDFC debit card se 3.1 lakh pay kar daala cheq app se CC billpay par. jisme isko koi reward/cashback mila toh nhi hoga but HDFC ko toh MDR mila.
short me samjho, log indirectly itna jada HDFC debit card ka use krta hai ki uska 1% upto 750 cb customers k losses recover ho jate hai.
Kuch log toh HDFC bank me saving account minimum 5k, 10k isliye rakhe hai taki HDFC Platinum DC se 1% upto 750 cb monthly le paye.
Bank jo yeh 5k, 10k tumhare saving account k money se paise kama raha hai woh bhul gaye ?
Credit Card ka alag system hai but debit card ka alag. dono k reward system me bahot difference hai.
Tier 2, Tier 3 or low income user utna credit card ka use nhi krta hoga but HDFC bank k debit card use kar raha hoga, jispar usko cb bhi nhi mil raha hoga.
Mujhe lagta hai HDFC bank financial year me profit me he raheta hoga. Log itne jada HDFC debit card ka use krte hai dusre jagha, woha se.
and yeh tweet ki baat kr raha tha mai -
uss logic se to 10% credit card users emi pe convert karke 90% customers ka bhi profit bana dete hai banks ko
uss hisab se ccs me devaluation aani hi nahi chahiye na kyuki mdr mil raha hai and emi walon se bhi paisa aaraha hai
Abhishek012
TF Pioneer
Aisa nahi hota hai. Credit Card ka business bahot alag hota hai.
Iske uppar pura ek lamba essay ho jayega phir batatne laga toh. 🤣🤣
hellobois
TF Legend
Can you please share the sms or email screenshot?
I have to share this to the RM who opened my account 3 days before devaluation messages.
They get their target by trapping us.
Very unprofessional.
Abhishek012
TF Pioneer
SCB website pe dekho na, clearly likha hua hai saare debit card par.
RM probably wasn’t aware of this.
hellobois
TF Legend
she called me today also and insisted that the devaluation is for those who open account after 1st Feb and not for existing customers. Still trying to trap
Complete lie. It is for everyone.
hellobois
TF Legend
Premium cashback ke page pe to koi info ni hai. pls share
