India's HDFC financial institution goals to reclaim credit card market share in coming quarters

(Corrects typo in "in the past" in lead paragraph.)

MUMBAI (Reuters) -India's biggest inner most sector lender HDFC bank goals to regain lost market share in credit playing cards within the subsequent three-4 quarters after the relevant bank eliminated a ban imposed greater than eight months in the past.

The bank plans to problem up to 300,000 credit playing cards from next month which might be scaled up to half a million within the coming months, Parag Rao, neighborhood Head-funds at HDFC financial institution observed in a press briefing on Monday.

"we've tremendous headroom to develop...our conservative strategy to credit will proceed," Rao added because the bank's predominant center of attention on providing credit cards to its personal bank shoppers will continue.

In December, the principal bank barred the bank from issuing new credit playing cards because of outages within the bank's digital fee services.

As of may also, HDFC's market share within the cards phase had fallen via two percent features, in accordance with a Macquarie report, however it remains the greatest card issuer in India, commanding essentially 24% the total market.

(Reporting by Nupur Anand; modifying through Simon Cameron-Moore)

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