"As a leader in the cards space, we promised, we’d be back with a bang," Parag Rao, group head of payments, HDFC Bank, said while announcing that the bank has issued a record 4 lakh credit cards since the Reserve Bank of India (RBI) lifted its embargo in August this year. The central bank had barred HDFC from issuing new credit cards in December 2020 due to multiple glitches in the bank's internet and mobile banking systems. With the embargo lifted, the bank plans to more aggressively push for digital payments. Aggressive growth path set: HDFC Following the lifting of the embargo, HDFC said that it wants to add five lakh new credit cards to its portfolio every month beginning February 2022. To achieve this rate, HDFC Bank has now revealed three new cards variants: Millennia, MoneyBack+ and Freedom. Two weeks back, the…
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