compendium of the Credit Card Industry in India.
[pic]
Submitted by: Tribhuvan Singh (Rollno.149010106)
period: 07th July’06.
Credit cards Industry in India: [pic]
The total acknowledgment entry card merchandise in the country is now at around 17m cards and is growing at a respect of 30-35per cent per annum. The size of the Indian credit cards market is estimated to be around $4bn.
The market is expected to grow by about 30-35% p.a. This would still be a very deplorable penetration of a potential market of 60 trillion cardholders. The credit card business is a low-margin, high book business. Thus, given the low income per card and the high initial investments by the bank, large volumes in terms of cards issued and the transactions financed atomic number 18 required to make the operations profitable.
Credit cards atomic number 18 gaining ground in India at a rapid whole tone with increasing urbanization and awareness of formative money. Besides the confused freebies and rewards doled out, customers feel it very convenient to carry a plastic card rather than bundles of currency. The expected growth rate of credit card business in India is 30-35%. With the advent of globalization and privatization, the belief of credit cards is gaining popularity. Most of the bill payments including utility payments nominate be taken care by credit cards. Further, in India at least, people perceive the card as a status symbol.
In India, ICICI Bank, Citibank, HDFC Bank, SBI, StanChart and HSBC are the main players. However, various Indian banks, both public and private, are entering into Joint Ventures. Recently, BOBCARDS has launched a credit card, PARAS, in association with the MasterCard International. ICICI Bank is the largest card issuer in the country with the total of 4...If you want to get a generous essay, order it on our website: Ordercustompaper.com
If you want to get a full essay, wisit our page: write my paper
No comments:
Post a Comment