According to Data Received directly from the RBI [Dec-2010], the Banking Regulator, HDFC Bank has become the Largest issuer of Credit Cards in India. HDFC Bank has 4.77 Mn customers up from 4.42 Mn a year ago.
HDFC managed to buck the trend as it had issued cards only to its customers with good profile while third rate banking practices in ICICI made it cancel 25% of its credit cards last year. HDFC MasterCard Gold Card is the most issued card starting with series 5176 52XX.
ICICI Bank has the second largest credit card base in India with 3.7 Mn followed by Citibank which has 2.2 Mn.
HDFC Bank saw a growth of 20% in its Debit Card customer base and now stands at 12.35 Mn.