Foreign lender Standard Chartered Bank has also joined the raxe to acquire the Indian credit card business of Barclays. Infact, the bank seems to be the leader in the race.

SBI cards is also in the race for getting the deal in its favor.

"As of now, Standard Chartered leads the race. But one cannot be certain whether it would finally buy this portfolio. There is many a slip between the cup and the lip," informed sources on anonymous basis.

"We are reviewing the options for cards, a business which requires scale. We are looking at various options," said Barclays' spokesperson in India.

However, both StanChart and SBI Cards havent shared their comments.