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Axis Bank will increase credit card customers, aiming to increase 20 percent stake

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Axis Bank Credit Card: Axis Bank of the private sector is working on increasing its business. The bank is planning to increase its share in the credit card market. In the coming days, the plan of the bank is to achieve 20 percent market share. Axis Bank is beginning to reap the benefits of a strong partnership strategy to utilize its existing resources for growth and grow the credit card business.

information given by the officer
Let us tell you that in the March quarter, the bank has made the maximum number of credit card customers. A top official of the bank gave this information. Sanjeev Moghe, President and Head (Cards & Payments) Axis Bank said that buoyed by this growth, the bank will strive to capture a fifth of the credit card market in the medium term.

11 lakh credit cards issued in the March quarter
Moghe said that going forward, it will merge Citibank’s consumer business with itself and the quality services will remain intact. The fourth largest private sector bank issued the highest number of 11 lakh credit cards in the March quarter of 2021-22.

Target of 10 lakh credit cards every quarter
“We believe that we can achieve the target of 10 lakh credit cards every quarter. If the economy remains stable, it may increase further. ”He said that the average spending of credit card customers has increased and the bank’s participatory business is also yielding good results.

Many big changes will happen from June 1
Apart from this, Axis Bank is going to make many big changes from June 1, which will have a direct impact on the customers. The bank has decided to increase the service charge on salary and savings account, which will be implemented after 2 days.

Minimum balance charge hiked
Let us tell you that if you do not keep the minimum balance in your account, then after the 1st day you will have to spend more money. The bank has also increased the monthly service charge on the minimum balance.

Increase in charges for auto debit failure
According to the information given by the bank, the bank has increased the minimum balance limit from Rs 15,000 to 25,000 in towns and rural areas. Along with this, the charge on auto debit failure has also increased.

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