Epic Research Update : IDBI Bank

IDBI Bank, the public sector lender is planning to enter into the credit card business by issuing credit cards to its customers. The bank intends to issue around five lakh cards in three years, of which one lakh will be issued in the first year and two lakh cards each in the following two years. In the beginning the bank will start with three types of card platinum, signature and corporate. The bank plans to issue EMV (Europay, MasterCard and Visa) chip cards with magnetic stripes.

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