NEWS & ADVICE : CREDIT CARDS
HDFC bank launches credit cards meant exclusively for doctors
By Ankit Sharma
Jul 2, 2012
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To expand its position in the credit cards segment, the Mumbai based HDFC bank has launched credit cards specially meant for doctors. These cards - named Superia and Platinum - have been designed keeping in mind the lifestyle, travel and other exclusive needs of the medical fraternity.

The members of this new range of credit cards can access about 600 airport lounges worldwide, regardless of the airlines or the class, they travel in. Also, they are entitled to the benefits of reward point redemption throughout airlines in India.

It is to be noted that the private sector lender has aimed to launch 1 million credit cards in the current financial year. Mr. Parag Rao, Business Head ( Credit Cards & Merchant Acquiring Services), HDFC bank said "We have plans to launch 1 million new credit cards in 2012-13 which is more than what we launched last fiscal,"

In the credit cards segment the bank already has a market share consisting of 5.60 million customers, which makes it one of the biggest players in the segment in the country.

On the launch of the new credit cards meant for doctors, Mr. Parag Rao, said, "Healthcare sector in India stands at USD 17 billion and it is growing at a rate of 13 per cent," adding that according to the Medical Council of India, there are about 8.4 lakh registered doctors in the country and the numbers are increasing by 35,000 every year.

He also said, "We are adding 90,000 to 100,000 credit cards every month which is more than the double of what credit card industry is doing.", adding that, "We aim to perform better than industry's growth in terms of spending which is likely to be 15-20 per cent in current fiscal."


 


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