Indus Equity Advisors

Bank Wise Credit, Debit Cards and QR Codes

March - 2022 Updates
 Indus Equity
Credit Cards March - 2022 Updates Advisors

Market Share In Number of Credit Cards Market Share In No. of Transactions On Credit Card

Standard Chartered Others

Others
Standard Chartered 9.88% IndusInd Bank 1.46% 7.06%
1.82% HDFC Bank 2.15% HDFC Bank
IndusInd Bank 22.46%
2.55% Kotak Mahindra Bank 25.60%
American Express
3.05%
1.88% American Express
2.06%
Kotak Mahindra Bank RBL Bank
4.34% 4.21%
Citi Bank Citi Bank
3.47% 5.82%
RBL Bank
5.00%

State Bank Of India Axis Bank

18.70% 10.38%
Axis Bank State Bank Of India
12.27% 19.16%

ICICI Bank
ICICI Bank
17.63%
19.07%

Market Share In Value of Transactions On Credit Cards

Standard Chartered Others
Kotak Mahindra Bank 1.15% 5.94%
2.68%
American Express
3.05%
HDFC Bank
RBL Bank 26.60%
4.12%

IndusInd Bank
5.28%

Citi Bank
4.08%

Axis Bank
8.75% State Bank Of India
19.04%

ICICI Bank
19.32%
 Indus Equity
Credit Cards March - 2022 Updates Advisors

Top Domestic Banks Market Share in Number of Credit Cards Top Domestic Banks Market Share In Value of Transactions
On Credit Cards
30% 35%
25.11% 29.72% 29.08%
24.15% 23.61% 30% 27.93%
25% 23.05% 22.97% 22.46% 26.60%
25.13% 25.15%
19.05% 19.17% 19.35% 19.09% 25%
20% 18.70%
18.27% 21.46% 21.12%
18.77% 19.44% 19.32%
20% 18.26%
17.57% 17.98% 17.92% 17.63% 18.90% 19.80% 19.04%
15% 17.06% 18.26%
15.78% 15% 13.15% 16.47%
10% 12.10% 11.52% 12.27% 9.77%
11.36% 11.56% 11.80% 9.12% 8.75%
10% 8.27% 8.43% 8.07%
4.64% 4.77% 4.90% 4.76% 5.02% 5.00% 5.28%
5.12% 4.71% 4.76% 5.15% 4.98%
5% 5%
4.16% 4.63% 4.09% 4.28% 4.12%
4.03% 3.88% 3.75% 3.75% 3.98% 4.34% 4.42%
0% 0%
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
State Bank Of India Axis Bank HDFC Bank
State Bank Of India Axis Bank HDFC Bank
ICICI Bank IndusInd Bank RBL Bank
ICICI Bank Kotak Mahindra Bank RBL Bank

Top Foreign Banks Market Share in Number of Credit Cards Top Foreign Banks Market Share In Value of Transactions
6% 7% On Credit Cards
4.84% 6%
5% 6.17% 5.50%
4.24% 4.15%
3.98% 4.79% 4.82%
5% 4.60%
4% 3.73%
3.47% 4.33%
4.08%
2.93% 4% 3.56%
3% 3.15%
2.47% 2.86% 3.00% 3.05%
2.36% 2.22% 3%
2.05%
2% 2.51% 2.38% 1.88%
2.29% 2.14% 2% 1.60% 1.61%
1.96% 1.82% 1.42% 1.30% 1.22%
1.15%
1% 1%

0% 0%
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22

American Express Citi Bank Standard Chartered American Express Citi Bank Standard Chartered
 Indus Equity
Credit Cards March - 2022 Updates Advisors

Number of Credit Cards Outstanding (as on month end) Market Share (%)
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
Public Sector Banks
Bank Of Baroda 4,67,879 6,44,537 6,20,571 7,08,681 8,11,986 11,03,921 0.81 1.04 0.99 1.09 1.18 1.50
Bank Of India 1,64,223 1,69,025 1,66,779 1,66,174 1,67,132 1,66,751 0.28 0.27 0.27 0.26 0.24 0.23
Bank Of Maharashtra 0 44,250.00 56,911 70,028 75,346 77,677 0.00 0.07 0.09 0.11 0.11 0.11
Canara Bank 5,83,803 7,72,849 8,23,483 8,76,835 8,82,293 9,27,694 1.01 1.25 1.31 1.35 1.28 1.26
Indian Bank 1,03,284 1,33,374 1,34,757 1,39,164 1,52,624 1,54,342 0.18 0.21 0.21 0.21 0.22 0.21
Indian Overseas Bank 60,116 61,119 61,400 67,536 70,115 74,083 0.10 0.10 0.10 0.10 0.10 0.10
Punjab National Bank 3,54,306 3,05,763 3,10,936 3,13,106 3,22,904 3,27,893 0.61 0.49 0.49 0.48 0.47 0.45
Union Bank Of India 4,62,673 4,71,266 4,68,534 5,21,568 5,27,063 5,38,325 0.80 0.76 0.75 0.80 0.76 0.73
IDBI 36,372 37,627 37,455 38,042 38,319 41,509 0.06 0.06 0.06 0.06 0.06 0.06
State Bank Of India 1,05,47,502 1,18,21,564 1,20,44,135 1,25,79,943 1,31,60,859 1,37,66,861 18.27 19.05 19.17 19.35 19.09 18.70

Private Sector Banks

Axis Bank 69,85,774 71,45,409 71,36,582 75,14,459 81,33,522 90,34,829 12.10 11.52 11.36 11.56 11.80 12.27
City Union Bank 6,715.00 3,119 2,449 2,269 1,967 1,834 0.01 0.01 0.00 0.00 0.00 0.00
DCB Bank 26,463 5,351 4,977 4,517 4,087 3,778 0.05 0.01 0.01 0.01 0.01 0.01
Dhanalakshmi Bank 6,140 6,042 5,864 6,248 6,960 7,134 0.01 0.01 0.01 0.01 0.01 0.01
HDFC Bank 1,44,99,647 1,49,85,844 1,48,28,277 1,49,87,119 1,58,35,697 1,65,36,735 25.11 24.15 23.61 23.05 22.97 22.46
ICICI Bank 91,10,690 1,05,84,421 1,10,34,268 1,16,92,310 1,23,53,813 1,29,78,825 15.78 17.06 17.57 17.98 17.92 17.63
IDFC First Bank - 2,32,552.00 3,86,801 4,96,494 6,30,172.00 7,99,219 0.00 0.37 0.62 0.76 0.91 1.09
IndusInd Bank 13,54,206 15,28,137 15,69,485 16,54,486 17,50,124 18,80,393 2.35 2.46 2.50 2.54 2.54 2.55
J&K Bank 1,38,619 84,828 84,887 85,204 83,477 82,096 0.24 0.14 0.14 0.13 0.12 0.11
Karur Vysya Bank 2,861.00 2,611.00 2,495 2,395 5,403 6,691 0.00 0.00 0.00 0.00 0.01 0.01
Kotak Mahindra Bank 23,24,280 24,09,874 23,55,745 24,40,182 27,42,477 31,96,377 4.03 3.88 3.75 3.75 3.98 4.34
RBL Bank 26,81,336 29,61,742 30,75,234 30,97,513 34,59,806 36,82,603 4.64 4.77 4.90 4.76 5.02 5.00
Yes Bank 8,73,454.00 9,46,628 9,86,610 9,94,374 10,72,172 11,84,542 1.51 1.53 1.57 1.53 1.56 1.61

Foreign Banks
American Express 16,93,175 15,32,327 14,82,771 14,46,690 14,15,598 13,83,221 2.93 2.47 2.36 2.22 2.05 1.88
Citi Bank 27,93,766 26,33,713 26,03,989 25,89,548 25,69,600 25,51,485 4.84 4.24 4.15 3.98 3.73 3.47
Standard Chartered 14,50,691 14,77,756 14,35,534 13,90,974 13,51,188 13,42,023 2.51 2.38 2.29 2.14 1.96 1.82

Others 9,29,660 10,47,359 10,79,750 11,08,467 12,38,282 15,83,283 1.61 1.69 1.72 1.70 1.80 2.15
Total 5,77,45,105 6,20,49,087 6,28,15,482 6,50,25,075 6,89,48,699 7,36,27,330
 Indus Equity
Credit Cards March - 2022 Updates Advisors

No. of Transactions (Actuals) On Credit Cards (during the month) Market Share (%)
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
Public Sector Banks
Bank Of Baroda 9,92,601 15,08,161 14,53,593 16,61,946 18,61,725 22,72,295 0.60 0.79 0.94 0.90 0.88 1.01
Bank Of India 4,01,804 2,92,046 2,47,809 2,66,822 2,84,578 2,87,352 0.24 0.15 0.16 0.14 0.13 0.13
Bank Of Maharashtra 0 28,790.00 38,110 68,544 88,034 98,033 0.00 0.02 0.02 0.04 0.04 0.04
Canara Bank 9,54,279 10,43,782 7,46,446 7,94,650 8,83,300 10,23,828 0.58 0.55 0.48 0.43 0.42 0.46
Indian Bank 1,59,399 1,93,060 1,60,324 1,95,891 2,10,792 2,06,437 0.10 0.10 0.10 0.11 0.10 0.09
Indian Overseas Bank 83,123 73,385 57,126 79,211 86,667 87,042 0.05 0.04 0.04 0.04 0.04 0.04
Punjab National Bank 5,57,071 6,09,117 5,36,167 5,79,728 6,13,643 6,27,022 0.34 0.32 0.35 0.31 0.29 0.28
Union Bank Of India 8,66,017 7,05,834 5,98,723 7,23,825 7,66,427 7,25,076 0.52 0.37 0.39 0.39 0.36 0.32
IDBI 1,11,924 1,21,077 92,636 1,05,660 1,15,187 1,19,796 0.07 0.06 0.06 0.06 0.05 0.05
State Bank Of India 3,13,56,726 3,74,30,076 3,11,65,431 3,74,84,485 4,11,93,455 4,29,92,632 18.96 19.73 20.09 20.24 19.44 19.16

Private Sector Banks

Axis Bank 1,42,11,371 1,76,12,517 1,44,94,739 1,71,32,500 2,11,06,182 2,32,94,876 8.59 9.28 9.34 9.25 9.96 10.38
City Union Bank 14,630.00 3,279 2,056 2,436 2,553 1,935 0.01 0.00 0.00 0.00 0.00 0.00
DCB Bank 53,807 15,701 12,977 13,187 11,913 10,478 0.03 0.01 0.01 0.01 0.01 0.00
Dhanalakshmi Bank 20,259 21,177 16,081 20,372 23,328 23,891 0.01 0.01 0.01 0.01 0.01 0.01
HDFC Bank 4,84,29,919 5,20,76,504 4,00,77,930 4,73,53,106 5,45,46,644 5,74,53,158 29.28 27.44 25.83 25.57 25.75 25.60
ICICI Bank 2,47,80,274 3,13,03,421 2,83,28,332 3,51,62,699 4,11,65,111 4,27,92,017 14.98 16.50 18.26 18.98 19.43 19.07
IDFC First Bank - 10,14,869.00 12,51,985 17,45,603 24,23,728 27,05,433 0.00 0.53 0.81 0.94 1.14 1.21
IndusInd Bank 32,13,639 43,71,760 35,73,562 42,65,382 45,67,557 48,15,322 1.94 2.30 2.30 2.30 2.16 2.15
J&K Bank 2,49,663 2,61,382 2,22,725 2,28,468 2,53,271 2,64,988 0.15 0.14 0.14 0.12 0.12 0.12
Karur Vysya Bank 9,960.00 6,848.00 6,600 7,674 18,518 19,729 0.01 0.00 0.00 0.00 0.01 0.01
Kotak Mahindra Bank 49,46,642 50,42,582 43,28,173 51,08,979 58,78,277 68,43,041 2.99 2.66 2.79 2.76 2.77 3.05
RBL Bank 79,08,392 87,97,169 71,86,930 79,49,691 88,82,216 94,52,910 4.78 4.64 4.63 4.29 4.19 4.21
Yes Bank 9,38,209.00 23,28,276 18,31,760 20,77,671 22,96,471 25,01,671 0.57 1.23 1.18 1.12 1.08 1.11

Foreign Banks
American Express 56,46,384 50,67,044 36,10,194 43,12,162 44,59,513 46,14,483 3.41 2.67 2.33 2.33 2.11 2.06
Citi Bank 1,38,75,367 1,38,56,592 1,03,79,708 1,23,24,784 1,32,66,513 1,30,53,349 8.39 7.30 6.69 6.65 6.26 5.82
Standard Chartered 35,92,050 38,52,965 28,40,015 32,27,428 33,92,979 32,79,528 2.17 2.03 1.83 1.74 1.60 1.46

Others 19,33,013 21,14,783 19,33,013 22,31,893 30,17,618 38,49,273 1.17 1.11 1.25 1.21 1.42 1.72
Total 16,54,24,952 18,97,52,197 15,51,32,389 18,52,19,165 21,18,48,912 22,44,31,018
 Indus Equity
Credit Cards March - 2022 Updates Advisors

Value of Transactions On Credit Cards (INR Crores) (during the month) Market Share (%)
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
Public Sector Banks
Bank Of Baroda 216 467 465 540 615 829 0.42 0.64 0.74 0.67 0.65 0.77
Bank Of India 90 84 70 79 86 90 0.18 0.12 0.11 0.10 0.09 0.08
Bank Of Maharashtra 0 12 15 26 34 41 0.00 0.02 0.02 0.03 0.04 0.04
Canara Bank 210 287 198 213 244 297 0.41 0.39 0.31 0.27 0.26 0.28
Indian Bank 37 57 45 57 63 64 0.07 0.08 0.07 0.07 0.07 0.06
Indian Overseas Bank 15 15 11 17 19 21 0.03 0.02 0.02 0.02 0.02 0.02
Punjab National Bank 115 157 138 151 168 188 0.23 0.22 0.22 0.19 0.18 0.18
Union Bank Of India 205 190 163 207 231 228 0.40 0.26 0.26 0.26 0.25 0.21
IDBI 26 34 26 31 34 38 0.05 0.05 0.04 0.04 0.04 0.04
State Bank Of India 9,583 13,276 12,241 14,698 18,653 20,452 18.77 18.26 19.44 18.26 19.80 19.04

Private Sector Banks

Axis Bank 4,990 6,631 5,206 6,782 7,605 9,405 9.77 9.12 8.27 8.43 8.07 8.75
City Union Bank 4 1 0 1 1 1 0.01 0.00 0.00 0.00 0.00 0.00
DCB Bank 7 4 3 4 3 3 0.01 0.01 0.01 0.00 0.00 0.00
Dhanalakshmi Bank 4 5 3 5 5 5 0.01 0.01 0.01 0.01 0.01 0.01
HDFC Bank 15,175 21,140 17,583 20,221 23,690 28,580 29.72 29.08 27.93 25.13 25.15 26.60
ICICI Bank 6,715 11,972 11,899 17,268 19,892 20,754 13.15 16.47 18.90 21.46 21.12 19.32
IDFC First Bank 0 384 597 850 1,209 1,253 0.00 0.53 0.95 1.06 1.28 1.17
IndusInd Bank 2,125 3,364 2,577 4,146 4,695 5,668 4.16 4.63 4.09 5.15 4.98 5.28
J&K Bank 85 115 104 108 115 123 0.17 0.16 0.16 0.13 0.12 0.11
Karur Vysya Bank 7 8 5 7 10 12 0.01 0.01 0.01 0.01 0.01 0.01
Kotak Mahindra Bank 1,455 1,647 1,513 2,608 2,338 2,883 2.85 2.27 2.40 3.24 2.48 2.68
RBL Bank 2,616 3,426 2,994 3,447 4,164 4,428 5.12 4.71 4.76 4.28 4.42 4.12
Yes Bank 296 742 610 680 796 998 0.58 1.02 0.97 0.85 0.84 0.93

Foreign Banks
American Express 2,446 2,589 1,799 2,539 2,823 3,277 4.79 3.56 2.86 3.15 3.00 3.05
Citi Bank 3,148 3,998 3,034 3,705 4,079 4,387 6.17 5.50 4.82 4.60 4.33 4.08
Standard Chartered 815 1,170 897 1,049 1,147 1,232 1.60 1.61 1.42 1.30 1.22 1.15

Others 649 914 649 1,011 1,337 1,815 1.27 1.26 1.03 1.26 1.42 1.69
Total 51,057 72,689 62,965 80,477 94,202 1,07,445
 Indus Equity
Debit Cards March - 2022 Updates Advisors

Market Share In Number of Debit Cards Market Share In No. of Transactions On Debit Card

Others
26.72%
Others
22.14%
State Bank Of India
30.07% State Bank Of India
31.94%
Bank Of India
3.02%

Indian Bank
Indian Bank
3.40%
2.94%
Central Bank Of India Punjab National Bank
3.29% 5.23%
Bank Of Baroda
HDFC Bank 8.12% Bank Of Baroda HDFC Bank
4.69%
4.74% 8.93%
ICICI Bank
Canara Bank Canara Bank
3.99%
5.06% Union Bank Of India 5.29% Axis Bank Union Bank Of India
Bank Of India
ICICI Bank
4.89% Punjab National Bank 5.22% 4.56% 5.30%
5.46%
5.01%

Market Share In Value of Transactions On Debit Cards

Others
20.73%

State Bank Of India

Bank Of India 33.12%
2.53%

Indian Bank
3.34%

Punjab National Bank

5.35%

Canara Bank
5.12%
ICICI Bank
Bank Of Baroda 6.39%
4.77%
Union Bank Of India HDFC Bank
Axis Bank 9.88%
3.39% 5.37%
 Indus Equity
Debit Cards March - 2022 Updates Advisors

SBI's Market Share in Number of Debit Cards Other Banks Market Share in Number of Debit Cards

34% 9%

8.12%
33.57%

7.81%
7.63%
7.37%
7.28%
8%
33% 32.66%

6.52%
32.10% 7%

5.56%
32%

5.22%

5.06%
5.06%
5.03%

5.02%

5.01%
4.98%
4.95%
4.94%

4.93%
4.92%

4.89%
6%

4.85%
4.84%
4.84%

4.83%
4.76%
4.74%

4.71%

4.69%
4.67%
4.64%

4.63%
4.55%

4.40%
30.95%

4.34%

4.32%

4.28%
4.17%
4.13%

4.09%

4.00%

3.99%
3.92%
31% 5%

3.88%

3.29%
30.07%

3.12%
3.09%
2.95%
2.96%
2.91%
30%
29.82% 4%

3%
29%
2%

28% 1%

0%
27%
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
Bank Of Baroda ICICI Bank Union Bank Of India Punjab National Bank
State Bank Of India Bank Of India Canara Bank HDFC Bank Central Bank Of India

SBI's Market Share In Value of Transactions On Debit Cards Other Banks Market Share In Value of Transactions On Debit Cards
35% 12%

9.88%
9.64%
9.41%
34.56%

9.17%

9.12%
34.49%
35% 10%

8.18%
7.94%

6.44%

6.39%
8%

6.35%

6.31%
34%

6.26%

6.17%

5.59%
5.39%

5.37%

5.35%
5.34%
5.31%

5.28%
5.28%

5.26%
5.25%

5.25%
5.21%
5.18%
5.15%

5.12%
5.06%
5.02%

5.00%
4.99%
4.93%

4.93%

4.77%
4.72%
4.68%

4.68%

4.58%

4.52%
34% 33.34% 6%

3.82%

3.69%
33.11% 33.12%

3.39%
3.37%
33.09%

3.35%

3.34%
3.19%
3.01%
33% 4%

33% 2%

32% 0%
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
ICICI Bank HDFC Bank Axis Bank Union Bank Of India
State Bank Of India
Bank Of Baroda Canara Bank Punjab National Bank Indian Bank
 Indus Equity
Debit Cards March - 2022 Updates Advisors
Outstanding Number of Debit Cards Outstanding (as on month end) Market Share (%)
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
Public Sector Banks
Bank Of Baroda 5,40,44,749 6,53,99,342 6,67,55,905 7,01,41,672 7,32,08,996 7,45,22,207 6.52 7.28 7.37 7.63 7.81 8.12
Bank Of India 4,00,62,795 4,17,07,777 4,23,48,394 4,35,53,238 4,42,11,273 4,48,56,938 4.84 4.64 4.67 4.74 4.71 4.89
Bank Of Maharashtra 76,43,666 96,38,962 1,00,30,188 1,10,08,458 1,16,94,712 1,22,64,810 0.92 1.07 1.11 1.20 1.25 1.34
Canara Bank 3,42,41,073 4,08,82,576 4,19,53,238 4,37,55,408 4,55,05,776 4,64,59,485 4.13 4.55 4.63 4.76 4.85 5.06
Central Bank Of India 2,40,99,971 2,65,49,122 2,67,39,765 2,83,78,179 2,92,51,605 3,01,97,222 2.91 2.96 2.95 3.09 3.12 3.29
Indian Bank 2,16,01,770 2,52,67,189 2,47,31,317 2,56,92,575 2,64,51,346 2,69,61,021 2.61 2.81 2.73 2.79 2.82 2.94
Indian Overseas Bank 1,79,24,815 1,92,12,964 1,93,93,015 1,97,29,307 2,01,20,147 2,05,08,718 2.16 2.14 2.14 2.15 2.15 2.23
Punjab And Sind Bank 27,55,251 31,98,027 32,86,693 34,32,785 34,05,719 35,46,410 0.33 0.36 0.36 0.37 0.36 0.39
Punjab National Bank 4,18,88,237 4,44,03,060 4,48,87,924 4,45,17,385 4,53,03,071 4,59,57,631 5.06 4.94 4.95 4.84 4.83 5.01
Uco Bank 84,22,524 1,01,28,240 1,03,36,357 1,07,80,544 1,11,42,317 1,13,00,018 1.02 1.13 1.14 1.17 1.19 1.23
Union Bank Of India 4,16,75,442 4,41,51,937 4,46,54,263 4,57,97,624 4,71,11,636 4,79,32,253 5.03 4.92 4.93 4.98 5.02 5.22
IDBI 1,26,40,911 1,32,39,650 1,31,25,755 1,30,52,867 1,30,26,821 1,30,42,334 1.53 1.47 1.45 1.42 1.39 1.42
State Bank Of India 27,81,33,593 29,33,12,845 29,08,65,972 28,45,53,301 27,96,74,559 27,59,22,932 33.57 32.66 32.10 30.95 29.82 30.07
Private Sector Banks
Axis Bank 2,44,87,900 2,38,30,173 2,43,21,878 2,54,11,832 2,67,33,062 2,77,47,647 2.96 2.65 2.68 2.76 2.85 3.02
Bandhan Bank 36,34,522 45,10,769 46,61,538 46,93,796 49,05,021 49,66,096 0.44 0.50 0.51 0.51 0.52 0.54
Catholic Syrian Bank 6,94,837 7,68,378 7,79,223 7,95,538 8,05,794 8,04,171 0.08 0.09 0.09 0.09 0.09 0.09
City Union Bank 20,27,703 23,12,177 23,12,281 23,73,980 23,85,725 25,79,284 0.24 0.26 0.26 0.26 0.25 0.28
DCB Bank 7,35,901 7,95,473 8,02,105 8,14,753 8,39,097 8,54,723 0.09 0.09 0.09 0.09 0.09 0.09
Dhanalakshmi Bank 4,75,756 5,10,411 5,01,295 5,04,823 5,04,642 5,03,775 0.06 0.06 0.06 0.05 0.05 0.05
Federal Bank 76,58,347 85,19,448 85,80,661 89,05,802 96,29,331 1,11,29,386 0.92 0.95 0.95 0.97 1.03 1.21
HDFC Bank 3,21,13,096 3,66,95,799 3,77,91,657 3,93,54,191 4,12,51,570 4,30,41,155 3.88 4.09 4.17 4.28 4.40 4.69
ICICI Bank 4,60,88,262 3,90,01,364 3,91,11,158 3,67,57,821 3,67,99,120 3,66,55,920 5.56 4.34 4.32 4.00 3.92 3.99
IDFC First Bank 20,43,451 29,35,878 31,09,070 33,79,263 36,90,684 40,76,204 0.25 0.33 0.34 0.37 0.39 0.44
IndusInd Bank 55,53,541 67,57,028 63,72,789 67,86,432 66,12,105 69,10,699 0.67 0.75 0.70 0.74 0.71 0.75
J&K Bank 42,22,607 38,11,693 38,58,873 38,72,010 38,16,083 34,57,424 0.51 0.42 0.43 0.42 0.41 0.38
Karnataka Bank 46,88,947 51,56,237 50,75,393 51,55,568 51,68,550 51,13,093 0.57 0.57 0.56 0.56 0.55 0.56
Karur Vysya Bank 39,52,670 43,33,828 42,38,760 41,98,038 41,36,917 40,66,117 0.48 0.48 0.47 0.46 0.44 0.44
Kotak Mahindra Bank 1,49,48,333 1,78,16,629 1,91,03,186 2,03,28,679 2,19,88,406 2,35,30,754 1.80 1.98 2.11 2.21 2.34 2.56
RBL Bank 9,60,827 12,52,276 12,23,017 11,81,348 12,38,900 13,08,583 0.12 0.14 0.13 0.13 0.13 0.14
South Indian Bank 31,98,476 34,67,124 34,48,884 35,44,597 35,76,124 36,14,563 0.39 0.39 0.38 0.39 0.38 0.39
Yes Bank 29,09,012 34,27,154 35,48,507 37,47,531 39,73,742 36,06,726 0.35 0.38 0.39 0.41 0.42 0.39
Small Finance Banks
Au Small Finance Bank 12,64,358.00 15,13,022.00 15,47,391 16,20,930 17,87,644 19,35,173 0.15 0.17 0.17 0.18 0.19 0.21
Equitas Small Finance Bank 6,70,439.00 11,64,678.00 15,11,913 22,16,077 27,79,959 32,93,094 0.08 0.13 0.17 0.24 0.30 0.36
Ujjivan Small Finance Bank 53,21,014.00 62,18,154.00 64,59,295 66,21,586 68,60,938 71,88,300 0.64 0.69 0.71 0.72 0.73 0.78

Others 7,43,79,919 8,50,79,534 8,73,06,395 9,14,92,166 9,81,50,302 6,78,10,841 8.98 9.47 9.64 9.95 10.47 7.39
Total 82,85,61,639 89,82,01,796 90,60,08,227 91,93,83,882 93,77,41,694 91,76,65,707
 Indus Equity
Debit Cards March - 2022 Updates Advisors
No. of Transactions (Actuals) On Debit Cards (during the month) Market Share (%)
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
Public Sector Banks
Bank Of Baroda 4,33,60,739 4,68,46,617 3,68,05,602 4,20,61,037 4,26,75,811 4,27,13,086 4.72 4.77 4.74 4.67 4.50 4.74
Bank Of India 2,77,88,281 3,06,24,490 2,49,51,902 2,78,96,948 2,73,84,821 2,72,22,392 3.02 3.12 3.22 3.10 2.89 3.02
Bank Of Maharashtra 1,12,69,945 1,19,44,128 1,02,74,134 1,14,38,641 1,17,02,120 1,15,72,982 1.23 1.22 1.32 1.27 1.23 1.28
Canara Bank 4,83,94,592 5,33,62,574 3,99,04,030 4,64,50,055 4,86,27,495 4,76,18,693 5.27 5.43 5.14 5.16 5.13 5.29
Central Bank Of India 1,66,02,338 1,76,56,964 1,34,87,564 1,44,83,610 1,40,44,379 1,28,31,201 1.81 1.80 1.74 1.61 1.48 1.42
Indian Bank 3,80,02,062 3,22,19,114 2,47,83,655 3,03,33,807 3,08,06,651 3,06,13,951 4.14 3.28 3.19 3.37 3.25 3.40
Indian Overseas Bank 1,78,67,036 1,95,99,925 1,44,56,594 1,84,87,496 1,99,96,826 2,01,88,582 1.94 2.00 1.86 2.05 2.11 2.24
Punjab And Sind Bank 23,49,855 27,27,164 23,30,219 25,21,884 26,69,013 26,67,969 0.26 0.28 0.30 0.28 0.28 0.30
Punjab National Bank 4,95,61,303 5,04,72,199 4,17,38,209 4,56,24,001 4,72,78,074 4,70,83,778 5.39 5.14 5.38 5.06 4.98 5.23
Uco Bank 92,43,912 1,04,17,871 84,74,169 98,12,853 98,36,756 1,01,29,113 1.01 1.06 1.09 1.09 1.04 1.12
Union Bank Of India 6,02,45,976 7,00,52,263 5,98,10,706 6,54,94,407 7,78,78,226 4,77,18,244 6.56 7.13 7.71 7.27 8.21 5.30
IDBI 1,29,51,669 1,28,80,782 1,01,02,965 1,12,07,321 1,13,76,406 1,13,07,660 1.41 1.31 1.30 1.24 1.20 1.26
State Bank Of India 28,16,09,646 30,74,19,711 24,82,57,902 28,42,22,828 29,52,77,322 28,77,18,248 30.65 31.30 32.00 31.55 31.13 31.94
Private Sector Banks
Axis Bank 4,77,28,057 4,54,28,028 3,50,69,143 4,08,91,333 4,31,22,205 4,10,53,441 5.19 4.63 4.52 4.54 4.55 4.56
Bandhan Bank 31,90,125 40,51,051 32,85,362 39,96,844 40,84,833 40,97,909 0.35 0.41 0.42 0.44 0.43 0.45
Catholic Syrian Bank 6,64,974 8,50,090 5,80,935 7,56,723 8,65,388 8,06,850 0.07 0.09 0.07 0.08 0.09 0.09
City Union Bank 38,01,629 38,91,888 27,66,550 36,30,336 38,11,299 39,67,412 0.41 0.40 0.36 0.40 0.40 0.44
DCB Bank 9,00,952 8,13,918 7,27,409 7,69,368 7,79,988 7,03,611 0.10 0.08 0.09 0.09 0.08 0.08
Dhanalakshmi Bank 7,29,265 7,89,983 5,52,840 7,16,402 7,79,268 7,74,354 0.08 0.08 0.07 0.08 0.08 0.09
Federal Bank 1,25,52,628 1,56,22,113 1,10,40,385 1,42,04,501 1,59,73,145 1,68,03,706 1.37 1.59 1.42 1.58 1.68 1.87
HDFC Bank 7,73,36,930 8,50,93,346 6,61,69,278 7,88,01,188 8,42,17,707 8,04,86,992 8.42 8.66 8.53 8.75 8.88 8.93
ICICI Bank 6,25,81,139 5,65,56,009 4,25,86,594 5,01,17,829 5,15,17,732 4,91,92,064 6.81 5.76 5.49 5.56 5.43 5.46
IDFC First Bank 37,27,335 47,39,452 37,60,809 47,33,837 49,26,970 50,26,276 0.41 0.48 0.48 0.53 0.52 0.56
IndusInd Bank 63,34,177 73,20,817 60,32,073 75,13,331 79,90,885 85,53,234 0.69 0.75 0.78 0.83 0.84 0.95
J&K Bank 73,40,305 1,16,00,382 97,82,235 1,04,96,619 1,11,53,445 1,09,98,193 0.80 1.18 1.26 1.17 1.18 1.22
Karnataka Bank 73,36,824 78,30,693 56,16,985 72,85,167 72,53,251 69,38,212 0.80 0.80 0.72 0.81 0.76 0.77
Karur Vysya Bank 66,20,272 85,98,036 57,43,871 76,51,742 79,49,131 81,96,177 0.72 0.88 0.74 0.85 0.84 0.91
Kotak Mahindra Bank 1,74,54,562 1,85,67,987 1,51,39,818 1,84,19,225 1,99,96,189 2,00,31,923 1.90 1.89 1.95 2.04 2.11 2.22
RBL Bank 12,13,605 12,41,973 9,60,940 10,96,009 11,45,950 11,38,532 0.13 0.13 0.12 0.12 0.12 0.13
South Indian Bank 47,09,795 58,82,326 40,03,928 52,14,417 58,37,170 55,23,930 0.51 0.60 0.52 0.58 0.62 0.61
Yes Bank 37,71,529 43,40,010 35,61,292 42,17,537 45,99,926 46,65,236 0.41 0.44 0.46 0.47 0.48 0.52
Small Finance Banks
Au Small Finance Bank 9,09,042.00 10,98,653.00 8,76,267 10,31,432 11,29,608 13,22,658 0.10 0.11 0.11 0.11 0.12 0.15
Equitas Small Finance Bank 9,49,357.00 12,27,783.00 7,44,431 10,22,493 12,06,711 13,78,841 0.10 0.13 0.10 0.11 0.13 0.15
Ujjivan Small Finance Bank 27,06,939.00 36,66,303.00 18,44,281 29,27,527 39,79,642 36,59,412 0.29 0.37 0.24 0.32 0.42 0.41
Others 2,58,32,500 2,54,34,139 1,87,82,351 2,41,40,767 2,67,71,691 2,61,33,896 2.81 2.59 2.42 2.68 2.82 2.90
Total 91,88,04,558 98,21,36,840 77,58,96,343 90,08,26,773 94,86,46,034 90,08,38,758
 Indus Equity
Debit Cards March - 2022 Updates Advisors

Value of Transactions On Debit Cards (INR Crores) (during the month) Market Share (%)
Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Mar'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22
Public Sector Banks
Bank Of Baroda 14,757 16,580 13,113 14,625 15,679 16,387 4.68 4.72 4.68 4.58 4.52 4.77
Bank Of India 7,507 9,342 7,625 8,288 8,367 8,704 2.38 2.66 2.72 2.59 2.41 2.53
Bank Of Maharashtra 3,027 3,710 3,275 3,535 3,741 3,824 0.96 1.06 1.17 1.11 1.08 1.11
Canara Bank 15,838 18,110 13,807 15,932 17,347 17,613 5.02 5.15 4.93 4.99 5.00 5.12
Central Bank Of India 5,186 6,343 4,884 5,011 5,174 5,025 1.64 1.80 1.74 1.57 1.49 1.46
Indian Bank 11,623 11,788 8,424 10,773 11,074 11,466 3.69 3.35 3.01 3.37 3.19 3.34
Indian Overseas Bank 6,174 6,874 5,083 6,448 7,036 7,324 1.96 1.96 1.81 2.02 2.03 2.13
Punjab And Sind Bank 723 889 769 828 930 977 0.23 0.25 0.27 0.26 0.27 0.28
Punjab National Bank 16,655 18,953 15,665 16,785 18,303 18,393 5.28 5.39 5.59 5.26 5.28 5.35
Uco Bank 2,719 3,543 2,848 3,219 3,433 3,653 0.86 1.01 1.02 1.01 0.99 1.06
Union Bank Of India 12,059 17,789 14,595 15,734 18,408 11,657 3.82 5.06 5.21 4.93 5.31 3.39
IDBI 4,470 4,763 3,719 4,080 4,282 4,381 1.42 1.36 1.33 1.28 1.23 1.27
State Bank Of India 1,08,745 1,16,306 96,875 1,06,501 1,14,791 1,13,850 34.49 33.09 34.56 33.34 33.11 33.12
Private Sector Banks
Axis Bank 19,752 18,467 14,529 16,760 18,529 18,472 6.26 5.25 5.18 5.25 5.34 5.37
Bandhan Bank 980 1,491 1,167 1,440 1,523 1,636 0.31 0.42 0.42 0.45 0.44 0.48
Catholic Syrian Bank 203 288 197 261 302 288 0.06 0.08 0.07 0.08 0.09 0.08
City Union Bank 1,246 1,549 1,074 1,455 1,494 1,662 0.40 0.44 0.38 0.46 0.43 0.48
DCB Bank 345 335 269 287 299 283 0.11 0.10 0.10 0.09 0.09 0.08
Dhanalakshmi Bank 193 254 178 230 248 254 0.06 0.07 0.06 0.07 0.07 0.07
Federal Bank 4,140 5,404 3,959 4,926 5,553 5,884 1.31 1.54 1.41 1.54 1.60 1.71
HDFC Bank 25,030 32,221 25,555 30,053 33,441 33,960 7.94 9.17 9.12 9.41 9.64 9.88
ICICI Bank 25,790 22,628 17,309 20,277 21,882 21,946 8.18 6.44 6.17 6.35 6.31 6.39
IDFC First Bank 895 1,418 1,207 1,502 1,560 1,632 0.28 0.40 0.43 0.47 0.45 0.47
IndusInd Bank 2,124 2,794 2,280 2,868 3,076 3,463 0.67 0.80 0.81 0.90 0.89 1.01
J&K Bank 3,009 3,761 3,350 3,666 3,665 3,624 0.95 1.07 1.19 1.15 1.06 1.05
Karnataka Bank 2,064 2,378 1,670 2,144 2,217 2,359 0.65 0.68 0.60 0.67 0.64 0.69
Karur Vysya Bank 2,483 3,279 2,197 2,928 3,022 3,169 0.79 0.93 0.78 0.92 0.87 0.92
Kotak Mahindra Bank 4,552 5,605 4,513 5,524 6,327 6,624 1.44 1.59 1.61 1.73 1.82 1.93
RBL Bank 339 410 318 367 408 429 0.11 0.12 0.11 0.12 0.12 0.12
South Indian Bank 1,419 1,868 1,311 1,677 1,902 1,860 0.45 0.53 0.47 0.53 0.55 0.54
Yes Bank 2,037 1,457 1,199 1,390 1,569 1,663 0.65 0.41 0.43 0.44 0.45 0.48
Small Finance Banks
Au Small Finance Bank 421 581 460 525 597 707 0.13 0.17 0.16 0.16 0.17 0.21
Equitas Small Finance Bank 226 403 208 300 364 442 0.07 0.11 0.07 0.09 0.11 0.13
Ujjivan Small Finance Bank 980 1,435 566 1,051 1,642 1,480 0.31 0.41 0.20 0.33 0.47 0.43

Others 7,193 7,967 5,786 7,566 8,542 8,611 2.28 2.27 2.06 2.37 2.46 2.51
Total 3,15,338 3,51,465 2,80,318 3,19,396 3,46,725 3,43,701
 Indus Equity
Bharat & UPI QR Codes March - 2022 Updates Advisors

Market Share In Number of Bharat QR Code Market Share In Number of UPI QR Code
Federal Bank IndusInd Bank
0.72% Others
2.11% 1.83% Others
Yes Bank HDFC Bank 17.70%
5.43% 25.03%

Axis Bank State Bank Of India

6.99% 0.90%
Federal Bank
Bank Of Maharashtra 1.78%
7.14% Yes Bank
ICICI Bank 56.64%
1.79%

State Bank Of India

9.51%

RBL Bank
19.52%
ICICI Bank Axis Bank
10.35% 21.19%

Punjab National Bank

11.36%

Market Share In Number of Bharat + UPI QR Code

Others
19.04%

State Bank Of India

1.14%
Federal Bank
1.79%

ICICI Bank Yes Bank

2.03% 55.20%

Axis Bank
20.79%
 Indus Equity
Bharat & UPI QR Codes March - 2022 Updates Advisors

Number of QR Codes Outstanding (as on month end) Market Share (%)

Bharat QR UPI QR Total QR Codes Bharat QR UPI QR Total QR Codes
Public Sector Banks
Bank Of Baroda 12,378 6,50,416 6,62,794 0.25 0.38 0.37
Bank Of India 104 3,53,824 3,53,928 0.00 0.20 0.20
Bank Of Maharashtra 3,55,014 4,33,713 7,88,727 7.14 0.25 0.44
Canara Bank 69 12,64,169 12,64,238 0.00 0.73 0.71
Central Bank Of India 7,543 1,75,363 1,82,906 0.15 0.10 0.10
Indian Bank 0 3,56,603 3,56,603 0.00 0.21 0.20
Indian Overseas Bank 0 81,152 81,152 0.00 0.05 0.05
Punjab And Sind Bank 1,159 8,053 9,212 0.02 0.00 0.01
Punjab National Bank 5,64,726 56,411 6,21,137 11.36 0.03 0.35
Uco Bank 1,830 3,54,332 3,56,162 0.04 0.21 0.20
Union Bank Of India 5,591 2,20,221 2,25,812 0.11 0.13 0.13
IDBI 4,738 2,00,147 2,04,885 0.10 0.12 0.12
State Bank Of India 4,72,784 15,58,576 20,31,360 9.51 0.90 1.14

Private Sector Banks

Axis Bank 3,47,644 3,65,94,577 3,69,42,221 6.99 21.19 20.79
Federal Bank 1,05,113 30,77,952 31,83,065 2.11 1.78 1.79
HDFC Bank 12,44,660 0 12,44,660 25.03 0.00 0.70
ICICI Bank 5,14,398 31,00,255 36,14,653 10.35 1.79 2.03
IDFC First Bank 0 38,079 38,079 0.00 0.02 0.02
IndusInd Bank 35,908 68,715 1,04,623 0.72 0.04 0.06
J&K Bank 0 32,064 32,064 0.00 0.02 0.02
Karnataka Bank 0 28,511 28,511 0.00 0.02 0.02
Kotak Mahindra Bank 21,849 2,36,089 2,57,938 0.44 0.14 0.15
RBL Bank 9,70,367 70,519 10,40,886 19.52 0.04 0.59
South Indian Bank 4,541 51,846 56,387 0.09 0.03 0.03
Yes Bank 2,70,171 9,78,31,604 9,81,01,775 5.43 56.64 55.20

Others 31,192 2,58,90,424 2,59,21,616 0.63 14.99 14.59

Total 49,71,779 17,27,33,615 17,77,05,394
 Indus Equity
Advisors

Thank You
Sushil Choksey Amit Mishra
sushil@indusequity.com amit@indusequity.com

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