A study on India's retail banking sector predicts that the retail expenditure transacted through credit cards will jump from the current level of 42% to cross the 68% mark by 2008.

A growing numbers of banks are exhorting their clients to avail the benefits of credit cards, says the report prepared by the market research agency, RNCOS. Apart from being lured by free gifts and offers dished out, the clients find it extremely handy to carry around plastic instead of unwieldy wads of notes. The majority of the bills, including utility bills, can now be paid through credit cards. Indians consider credit cards to be a mark of class.

Experts project a 27-32% rate of growth for the credit card sector in India. Presently, about 13 million credit cards are in circulation in India, says the report titled 'Indian Retail Banking Sector Analysis (2006)'.

It reveals that although the State Bank of India (SBI) is the leading bank in India, it had only 1.5 million credit card holders on its rolls in 2005; its rival, a key private bank that ranks second in India, had 3.25 million, or twice the number of clients. Market analysts assert that though banks are finding inventive methods of promoting their cards to clients, cardholders have become wiser and can safeguard their interests.

To purchase your copy, go to: http://www.rncos.com/Report/IM037.htm