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HDFC Bank has issued a record over 4 lakh credit cards since the lifting of restrictions by the Reserve Bank of India (RBI)

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HDFC Bank announces three new card relaunches

HDFC Bank has issued over four lakh credit cards since the Reserve Bank of India (RBI) lifted restrictions on new issuances. The country’s largest private lender also announced the relaunch of three cards – HDFC Bank’s Millennia, MoneyBack+ credit card as well as the Freedom credit card with a host of new features and benefits for cardholders.

HDFC Bank said that the new card variants will be available to customers by next month. Existing Freedom and Millennia card holders will be able to avail the new benefits and will also be notified by the bank.

According to a statement by HDFC Bank today, the record for issuance of new credit cards registered by the bank is till September 21, 2021.

“We are now focused not only to acquire new customers but also to expand our existing card offerings. Our strategy of re-inventing, creating and co-creating is designed based on analysis of customers’ buying behaviour, categories they spend and spending patterns,” Mr Parag Rao, Group Head – Payments, Consumers Said Finance, Digital Banking and IT, HDFC Bank.

“The months we have spent preparing and sharpening our strategy are now paying off. We are now ready to bring our best in class offers and experiences to our customers during the festive season.”

Earlier in August this year, the central bank lifted an eight-month-long ban on HDFC Bank from issuing new credit cards.

On Wednesday, September 29, HDFC Bank shares were trading at Rs 1,598.95, down 1.05 per cent on the BSE. HDFC Bank opened at Rs 1,590 on BSE, touching an intraday high of Rs 1,603 and an intraday low of Rs 1,584.95 in the trading session so far.

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