HDFC Bank to double its credit card business

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⭐ HDFC Bank to double its credit card business 

HDFC Bank is looking to acquire nearly 10 lakh credit card customers every month, which could be a remarkable comeback after RBI temporarily banned the private lender from issuing new credit cards in December 2020. As per management, the bank wants to double the pace of new credit card issuances through partnerships with different companies. As per RBI data, HDFC Bank captured a 29% market share of overall credit card spending in October.

⭐Yes Bank transfers its bad loans

Yes Bank has completed the transfer of bad loans worth $5.8 billion to private equity firm JC Flowers. As per management, the deal is the largest sale of bad loans in the Indian banking sector and it could help strengthen bank’s balance sheet.

⭐ Domestic air traffic rises in November

According to data released by the Directorate General of Civil Aviation (DGCA), domestic air passenger traffic increased by 11% year-on-year to 116 lakh  in November. However,it  is yet to reach the  pre-pandemic level. In terms of market share, InterGlobe Aviation continued to retain the top spot at 55.7%, while SpiceJet's market share was at 7.5% during the period.

Global markets (at 8:00 AM today)

Fact of the day

Google Search logged its highest-ever  traffic in the last 25 years during the final of the FIFA World Cup.

Source: Business Standard