The number of credit cards decreased in the July-September quarter of the fiscal year 2023.

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The Reserve Bank of India has made it mandatory that any credit card that has been inactive for more than a year should be discontinued.

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In the second quarter of the current financial year, the number of credit cards decreased by 25.5 lakh to 7.77 crores.

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After the notice, if there is no response from the cardholder within 30 days, then the card should be closed by the card issuing bank.

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The total number of cards of the largest bank HDFC Bank decreased by 16.2 lakh credits cards in the second quarter of the fiscal year 2023.

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Axis Bank is in second place, whose number of cards has decreased by 11 lakh during this period.

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On the other hand, ICICI Bank lost 4,09,147 cards during this period.

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Among other major businesses, Canara Bank cards lost 3,54,413 cards in the second quarter

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