Federal Bank, IDFC First Bank surge in credit card growth, challenging HDFC Bank

Recent data reveals that Federal Bank and IDFC First Bank have collectively issued over twenty-two lakh new credit cards, almost paralleling HDFC Bank's own expansions. Together, they represent twenty-one percent of the newly released cards, suggesting a noticeable change in the competitive dynamics of the credit card sector as the dominance of the top four issuers appears to be waning.