Public Comfort on the Usage of Plastic Money: an Indian Introspection

In India Plastic Money was launched in 1970s by a few Foreign Banks namely Citibank , ANZ Grindlays Bank but the product got popular only from 1985- 86. Specially it got it?s space after liberalization of the economy in 1991. Credit Card was invented in 1946 in USA. Master, Visa, Amex, etc. are popular credit providers of the world. All of these originated in USA only. In India, we find the credit cards are operating in the same brand along with some local brand like Dinners, Intercard etc. Plastic Money is having significant contribution in National Income, Employment generation, credit creation, increasing the velocity of money, promoting trade & commerce, enhancing purchasing power etc. Over the last two decades the business of Plastic Money is growing very fast in India, specially in the last decade there is a boom. The major banks which are in this business In India are Citibank, SCB, SBI, ICICI Bank, HSBC, HDFC Bank, etc. Under the above backdrop, let me present before you an interesting discourse for your cerebral exercise. It will spot on some key-issues in credit and debit cards and related security and social issues and also measure the customer satisfaction level in