Released on = June 9, 2006, 2:35 am

Press Release Author = RNCOS

Industry = Financial

Press Release Summary = RNCOS Research:
(http://www.marketsmonitor.com/category/IM037.html) The report reveals the effects
of demographic changes on the Indian credit card sector. It outlines the growth
prospects and challenges faced by the industry.

Press Release Body = RNCOS Research:
(http://www.marketsmonitor.com/category/IM037.html) With India on the path of rapid
economic development, there has been an unprecedented rise in the volume of
customers and an identical growth in their spending capacities. At last the credit
card sector is making headway in the Indian market with very strong possibilities of
progress and development.

In India, majority of the retail expenditure is transacted through credit cards, if
latest available reports are to be believed. At present they represent over 42% of
the retail expenses and are estimated to cross the 68% mark by 2008.

Growing numbers of banks are exhorting their clients to avail the benefits of credit
cards. Apart from the free gifts and offers dished out, the clients find it
extremely handy to carry around a credit card instead of unwieldy wad of notes.
Majority of the bills--utility bills inclusive, can be paid through credit cards.
Indians consider credit cards as a mark of class.

Industry experts project a 27-32% rate of growth for the credit card sector in
India. Presently there are about 13 million credit cards in India.

RNCOS' recent market research report titled "Indian Retail Banking Sector Analysis
(2006)", reveals that although State Bank of India is the leading bank conglomerate
in India, it had only 1.5 million credit card holders on its roll in 2005, whereas
its rival, a key private bank-ranking second in India, had 3.25 million or twice the
number of clients.

As per industry forecasts made by the expert's analysts at RNCOS, this is a
temporary phenomenon and the enduring trend is certainly going to be very divergent
if India pursues the path chosen by industrial nations.

The 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.

This report offers a comprehensive outline of the prospects, difficulties and vital
reasons for profitable development of the industry. It also includes the latest
events and other interesting matters regarding the retail banking industry. The
report wraps up with a discourse on the key operators in the Retail banking
industry.

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Contact Details = RNCOS
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial area, Delhi 92
91-11-4214-1229
info@rncos.com