After reaching pre-Covid levels, we will now focus on surpassing industry growth: SBI Cards Boss
Rama Mohan Rao Amara, MD & CEO, SBI Cards, discusses the growth of digital transactions over the year due to pandemic and the target strategies for credit-card penetration in India. Edited excerpts from an interview given to ET Now:ET Now: Given the kind of recovery we are seeing, can we say spends are inching towards pre-Covid levels? Rama Mohan Rao Amara: I think in Q1, due to lockdown and a very limited economic activity, we noticed that savings were more than the consumption but Q2 reversed the pattern and witnessed rise in consumption demand. The Q3 numbers suggest that we have come out of the economic downturn strongly. India Inc has returned to Pre-Covid levels in November 2020, while we at SBI Cards were able to achieve the same in October itself. If you look at the contributi...