CURRENT AFFAIRS

Detailed explanation-1: -HDFC leads credit card market while SBI tops chart in debit card market. State Bank Of India (SBI) , the largest bank in the nation, maintained its leadership position in the debit card market and HDFC Bank in the credit card market as of June 2022.

Detailed explanation-2: -The latest data by PGA labs showed that the country’s largest bank, The State Bank Of India continues to be the top player with a 30 per cent market share of debit cards as of August 2022 despite a 3 per cent drop in year-on-year growth. Cards in circulation in India hit 1 billion as debit cards issuances revive.

Detailed explanation-3: -Notes: As per the data collated by PGA Labs, the country’s largest bank, the State Bank of India remains the top player with a 30% market share of debit cards as of June 2022.

Detailed explanation-4: -HDFC Bank is not only one of the largest private banks of India but also has the major market share in terms of credit cards offerings. As of September, 2022, HDFC Bank has approximately more than 1.70 crore active credit cards and thus it is regarded as the largest card issuer in the country.