Despite the stress, big banks keep playing credit cards

Mumbai: Continued stress in the credit card segment has prompted caution among several large and mid-sized lenders. Kotak Mahindra Bank, RBL Bank and IndusInd Bank have slowed new credit card issuances, according to the Reserve Bank of India data. This contrasts with the approach taken by larger peers such as HDFC Bank, ICICI Bank and Axis Bank, which have continued to aggressively expand their credit card portfolios.An ET analysis showed that in October, Kotak Mahindra Bank saw a net addition of 765 cards, while RBL Bank saw a steep decline of about 18,211 cards. IndusInd Bank also reported a contraction, with its card base shrinking by more than 1,228 cards.Meanwhile, major issuers continued to scale up. HDFC Bank added about 1,44,000 lakh cards in October, SBI Card added about 1,27,000,