HDFC getting cornered ?
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All I see is SBI, Axis, ICICI or Citi.
Is HDFC bank deliberately not doing or its just being cornered by amazon/flipkart ?
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HDFC need one more chance of Ban
HDFC give discounts on samsung,apple,croma, lg stores and have no cost emi tie up with most of the local electronics shops. They are in different league compared to other banks
Also recent 1mg, Tata Cliq, JioMart, Reliance stores .all had HDFC offers.
Ever since the HDFC - HDFC Bank merger, there is a decided effort to slow down the cash burn.
They have spend too much while RBI had ban on them to still stay alive in the market. They will try to recover the losses within a year or two, so this was bound to happen.
2020-2021, we couldn't think about using any other card than HDFC's. After they sat down with their calculation in April, they must've realised the heavy spendings they had to do to stay above all. It's no surprise that they will cut down on the budgets.
SBI is the new master. It is easily issuing credit cards now. And it is giving good limits too. Time to accumulate SBI Cards???
They must have reached their target of enough customer base in India, so now have become big old lazy bums.