Mangaluru: With more and more people opting for use of debit and credit cards and cheques in the past one month after demonetisation, the demand for production of banking cards and cheque books has seen a steep increase. Manipal Technologies Limited and its subsidiary MCT Cards and Technology Pvt Ltd owned by the Manipal Group are into production of cheques and banking cards at Manipal.
MCT Cards and Technology Pvt Limited make banking cards (both Debit and Credit) of all major banks in the country. MCT Cards and Technology which started production of banking cards about six years ago has a market share of 60 per cent in the country and is the largest producer of cards. It also is one of the top ten in the world in banking card production.
“The demand for production of cards and cheques has seen an increase in last one month after demonetisation. If banking cards have increased by 15 per cent, cheques have seen an increase by 30 per cent,” Manipal Technologies Limited vice president and business head Rajesh Shet told DC. “Account openings and demand for ATM cards seem to have increased. This is reflected in the demand and volume of production,” he said.
