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Debit card transactions at SBI jump manifold post demonetisation

19 June, 2017 7:49 AM
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Debit card transactions at SBI jump manifold post demonetisation

In contrast, HDFC Bank and ICICI Bank saw their market shares drop over the six-month period following the note ban in November.

Country’s largest lender State Bank of India (SBI) reported debit card transactions worth Rs 11,720.73 crore in April, which is 31 percent of the market share, according to data from the Reserve Bank of India.

In contrast, HDFC Bank and ICICI Bank saw their market shares drop over the six-month period following the note ban in November.

At the end of April, SBI had nearly 35 crore debit cards while HDFC Bank has 2.39 crore debit card holders and 3.7 crore card holders for ICICI Bank.

The total value of debit card transactions for the entire system in April stood at Rs 37,481.88 crore, up more than 70 percent from Rs 21,941.28 crore in October.

Also read: TTSL approaches SBI for loan restructuring of Rs 32,000 crore: Sources

Source: moneycontrol.com

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