“Credit cards finally arrive in India, business in credit cards booms like never before” Chander Uday Singh, India Today, ISSUE DATE: Oct 31, 1980 (republished online Dec 15, 2014) URL: https://www.indiatoday.in/magazine/economy/story/19801031-credit-cards-finally-arrive-in-india-business-in-credit-cards-booms-like-never-before-821571-2014-01-08
“Credit cards - as American as Coca-Cola or blue jeans - have finally arrived in India. Business in credit cards is booming like never before. Diners Club, the pioneers, who made their entry in the early ’60s now has 21,000 cardholders and 2,000 business establishments on its membership list. Centralcard - the first indigenous credit card - which made its debut last month has already enrolled over 400 establishments on its list.”
Image caption in piece: “Shamsunder Aggarwal: Commission guaranteed” (Aggarwal was the head of Diners Club India in 1980).
“Made its debut last month” from a 31 Oct 1980 issue → Centralcard launched September 1980 (the IJAR/IOSR academic papers claiming “August 1980” appear to be off by about a month).
| Date | Event | Source |
|---|---|---|
| 1961 | Diners Club introduced in India by Kali Mody | cardpedia.in etc. |
| Sept 1980 | Centralcard launched by Central Bank of India (on Visa network; usable only in India) | India Today 31 Oct 1980 |
| 1981 | Andhra Bank launches Visa card | cardinsider.com |
| 1988 | Vijaya Bank introduces MasterCard with branch-cash withdrawal | razorpay.com |
| Source | Coverage | Access |
|---|---|---|
| Times of India, Sep–Oct 1980 | Almost certainly covered the launch | ProQuest Historical Newspapers: TOI (paywalled, via library) |
| India Today, 31 Oct 1980 | Full-length feature | Free via india-today archive (above) |
| Economic Times, Sep–Oct 1980 | Likely | ProQuest |
| The Hindu, Sep–Oct 1980 | Possible | The Hindu’s archive (free from 2000 onward; paywalled pre-2000) |
| India Today back issues | Google Books has partial scan of some issues | Need to browse Books directly |