New age private sector bank – Yes Bank has planned to enter the credit card business. The senior group president-Retail & Business Banking stated that it would take atleast 8-9 months for the bank to start up the credit card business.
Since last 10 years bank is serving customers all across the country. Bank has wide network with around 1 million customers. The bank will work out the credit card business steadily. Other banks like SBI and HDFC banks have been growing their credit card portfolios aggressively over the past few years.
Further the yes bank has also decided to not to charge for transacting at ATMs even beyond five transaction, though the RBI has asked the banks to charge customers after 5 transactions from ATM. The rule will be applicable from Next month onwards. Banks are now focusing on encouraging their customers to use their credit cards frequently and cleaning out inactive cards.