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In February 2024, the total number of credit cards issued by banks in India surpassed the 100 million mark, with an addition of 1.1 million cards from the previous month. Which bank is the leader in credit card issuances, with the lender’s cards in circulation standing at 20.40 million?

Practice MCQ for SSC, UPSC, RRB Exams

A. State Bank of India A.

B. Axis Bank B.

C. Yes Bank C.

D. HDFC Bank D.

Correct Answer: D সঠিক উত্তর: D

Explanation ব্যাখ্যা

HDFC Bank is the leader in credit card issuances, with the lender’s cards in circulation standing at 20.40 million. Other major players include SBI Card with 18.75 million cards, ICICI Bank with 16.84 million, and Axis Bank with 13.90 million.On the other hand, the overall credit card spending among Indians has moderated to Rs 1.49 trillion from Rs 1.66 trillion in January 2024 owing to considerable decline in point of sale (PoS) and e-commerce payments.While PoS transactions dropped to Rs 54,431.48 crore from Rs 58531.77 crore in January 2024. Meanwhile, e-commerce payments declined to Rs 0.95 trillion from Rs 1.08 trillion as the festive season came to an end.

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