We were the First in Global Media to do metrics on the size of the Plastic Money [Credit / Debit] Market in India. We have received quite a number of e-mails and hence for your convenience, here is the latest update on the Data of the Indian Credit / Debit Card Market.
Total Number of Debit Cards – 211.87 Mn
Total number of Credit Cards – 18.18 Mn
Surprised on the number of Credit Card User base being Shrunk ? It is because of ICICI Bank, which canceled 25% of its Credit Cards.
Debit Cards – Almost all the Banks have issued Debit Cards in tie-up with VISA or MasterCard. Here is break-up of Debit Card Issuing by Banks
All the PSU Banks – SBI, Canara, PNB etc together have issued – 154.79 Mn Debit Cards
Indian Private Sector Banks – HDFC, ICICI, Federal etc together have issued 53.05 Mn Debit Cards.
Foreign Banks operating in India – HSBC, Citi etc have issued mere 4.02 Mn Debit Cards
Credit Cards – The PSU Banks who have tasted defaults and delinquencies at all levels were extremely careful in issuing credit cards and have thus far issued only 3.03 Mn Cards which is a good move in my view as the industry needs stronger regulations as well as matured customers.
Private Sector Indian banks – Somewhat aggressive earlier have turned cautious and have a collective credit card customer base of – 9.3 Mn
Foreign Banks in India mostly serving the Corporate Sector have managed to issue 5.8 Mn Credit cards thus far.
Data Courtesy – RBI
For Complete Data, you can drop a line to feedback At Cardbhai Dot com.