HDFC Bank has announced substantial changes to its premium Infinia credit card rewards structure, with the new rates taking effect from January 16, 2026. The modifications primarily target the popular SmartBuy platform, significantly reducing the earning potential for cardholders who frequently use this benefit.

Key Changes to Reward Structure

The most significant change affects the SmartBuy platform, where cardholders purchase brand vouchers through Gyftr. The reward structure changes are outlined below:

These adjustments represent a notable decline in the card's overall benefits, with convenience fees of up to 4% still applying on certain brands, potentially reducing net rewards to approximately 6% for specific purchases.

Market Positioning and Competitive Landscape

The revised reward structure brings the Infinia card more in line with other premium HDFC offerings. The alignment with existing premium cards is demonstrated in the comparison below:

This standardization across the premium card portfolio reduces the Infinia's previously distinctive advantage in the rewards category.

Impact on Cardholders

The revision directly affects the card's value proposition, particularly for affluent users who leveraged the SmartBuy platform to maximize returns. Key considerations for existing cardholders include:

• Reduced earning potential on voucher purchases
• Continued premium annual fee structure
• Need to reassess overall card value and benefits
• Diminished advantage over other HDFC premium offerings

Industry Context

These changes reflect broader trends in the Indian credit card market, where issuers periodically adjust reward structures in response to market conditions and operational costs. The modification represents a strategic realignment of benefits across HDFC's premium card portfolio, standardizing reward rates while maintaining the card's premium positioning in terms of annual fees and other exclusive benefits.

HDFC Bank witnessed a substantial block trade on the National Stock Exchange (NSE), highlighting significant institutional activity in the banking sector. The transaction involved a considerable volume of shares and represents one of the notable trading activities for the private sector lender.

Block Trade Details

The block trade executed on NSE involved key parameters that demonstrate the scale of institutional interest in the banking stock.

Market Significance

Block trades represent large-volume transactions typically executed by institutional investors, mutual funds, or other significant market participants. These transactions are conducted outside the regular market to avoid impacting the stock's market price due to their substantial size.

The execution price of ₹938.50 per share for this particular transaction indicates the level at which institutional participants were willing to transact in HDFC Bank shares. Such trades often provide insights into institutional sentiment and investment flows in the banking sector.

Trading Activity Impact

The ₹79.55 crore transaction value represents significant trading activity and contributes to the overall liquidity in HDFC Bank shares. Block trades of this magnitude typically indicate either portfolio rebalancing by large institutional investors or strategic position building by market participants.

The transaction involving approximately 847,588 shares demonstrates the continued institutional interest in one of India's leading private sector banks, reflecting the stock's liquidity and appeal among large investors.