How Big is “Cash Advances on Credit Cards” Market in India ?

Authentic Data and Statistics on any consumer related market is a wealthy piece of information. After having done ton of correspondence, sometimes paid to the officers of bank, we have obtained data on the Cash Advances obtained by Consumers on their Credit Cards in India. Today we’d like to present to you the size of the market, average transaction and the profit the banks are making from cash advances.

Size of the Cash Advances Market for FY 2011-12
Indians withdrew cash of Rs 12595.86 Mn [Rs 1259.58 Cr] using their Credit Cards from various bank ATMs in 2,190,662 number of transactions; Thus the Average Cash Withdrawal transaction at ATM was of Ticket Size Rs 5749.79 rounded of to Rs 5750.

The Following Table Shows Monthwise Data of Cash Advance Withdrawal and No of Transactions in FY 2011-12

Month No. Trans Rs Mn
Apr-11 171978 963.72
May-11 177189 1002.07
Jun-11 172625 960.36
Jul-11 172970 967.22
Aug-11 180047 1088.49
Sep-11 178119 1003.55
Oct-11 185542 1078
Nov-11 176818 1047.44
Dec-11 184298 1108.52
Jan-12 188208 1089.36
Feb-12 200762 1078.42
Mar-12 202106 1208.71

Top 5 Lenders in this Segment
HDFC Bank is the leading provider of Cash on Cards with 36.75% market-share, followed by Citibank with 22.65%, SBI Cards with 9.5%, Bank of India with 5.69%, ICICI Cards 3.84%, Axis Bank 2.2%. Yes, even we were astonished by the surprise entry of Bank of India. American Express and Barclays bank had ZERO number of Cash Advances on Credit Cards. In the next article we will analyze the profits these banks make by way of Cash Advances on Credit Card feature.

Customized Solutions: We also provide you the following data – Monthly Cash Advances + Purchases on Credit Cards for each and every bank in India, No of Transactions every Month, from April-2011 till date.

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