HDFC Bank Limited CC-Dec23.pdf · 2024-01-16
Thank you for the opportunity. I have a question on the consumer behaviour. This has more to do with seeing revolve rates on credit card being much lower than pre-COVID levels. Similarly, on the savings account side, the growth rate is weak. So, can one surmise that because of good apps available on mobile devices, consumers are now being very active and not giving in to the inertia on both the asset side, the credit cards, they are not revolving. They are just taking personal loan or something? And similarly on the liability side, the slot consumers are moving away their deposits to an account where they're getting 7%, 8%, whereas we are giving, let's say, 3.5%. So have you done any behavioural analysis on both assets as well as liability side to see how across the broad spectrum of your customers, is there any data to prove through these thesis?
Sure. But the question is whether the minuses are overwhelming the pluses because the account opening these days is less like an hour's affai r and if a bank is offering 7%, 8%, and we are seeing these banks which are offering 7%, 8% are seeing very high growth rates on their liability side. So is it that the smart customers of yours are now using these properties and it's a structural change and hence, it will be a headwind to our deposit accretion targets?