Foreign Companies
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Indian
Financial Card Market – More Debit than Credit for Future
“Opportunities
in Indian Banking Sector”
is an extensive research on the Indian banking industry that gives deep
insight regarding the opportunities and challenges in the industry.
According to a recent report on the Indian banking industry, the number of
debit and credit card users in India is anticipated to reach 73.4 Million
and 406 Million by the year 2010 and 2011 respectively.
The report said that the frequency of transactions through credit cards will
rise in comparison to debit cards. However, the Indian financial card market
will be dominated by the increasing number of debit cards rather than credit
cards. It is supported by the fact that the number of debit cards in
circulation increased from a quarter of a million in 1999 to 28 Million in
2004.
The report also provides a comprehensive overview of the major growing areas
which will lead the Indian debit and credit card market that includes
growing consumerism, increasing rivalry between the banks in offering new
credit cards, betterment in the payment infrastructure and rising income
levels. The report also highlights the development of the Indian banking
industry on account of the series of reforms that started in 1991 and
currently by the remarkable growth achieved by the retail industry which can
be observed by the increasing partnerships between the banks and the
industry.
The study
further marks the reasons for low penetration of the financial cards in
India. The number of cardholders in India
is comparatively very small than the number of cards under circulation. This
is on account of multiple cards used by many cardholders that provide great
opportunity to the issuers of credit card for increasing their customer base
in coming years.
The report “Opportunities
in Indian Banking Sector” provides a keen insight into the
Indian banking industry by prudently analyzing various aspects like income
level, size while discussing the opportunities and challenges faced by the
sector while providing an updated overview of the Indian banking industry
based on the number of ATMs, assets and deposit size etc.
The research also covers the future prospects of the different segments of
the Indian banking industry that include banccassurance, mobile banking,
rural banking, financial cards, rural banking technology while discussing
the strategies vital for the success of the banking Industry in India.
