HSBC India is aiming to revamp its retail operations in the country. The lender has been facing losses in the retail segment in India since three consecutive years now.

The bank aims to march ahead in the retail arena with the first aim being to reconstruct its credit card business in the country.

Through an assimilated as well as 'targeted, precise and data-oriented' approach including partnership with local players, the bank aims to grow its credit card business again, indicated Gannesh Bharadhwaj, head of retail banking and wealth management at HSBC India.

"Getting new customers is an issue because we don't have branches; so now what we are relying on is partnerships. Partnering with someone who has a lot of data-on spending for example-and using that data to tell us something about spending and, hence, income, and take that to a credit bureau to check credit worthiness," Bharadhwaj said talking about the plans of the bank.

The present retail operations portfolio of the bank includes mortgages, credit cards and personal loans.

"Retail banking numbers are in line with our expectations," Bharadhwaj said. "That turnaround has been as per our expectations, and this year, we hope, will be a turnaround year for us."