INFINIA, the card, comes with a "no limits" arrangement both in terms of spending and luxury features, the company said in a statement. It will be offered initially to 5,000 selected individuals and will be available on both VISA and MasterCard platforms. 

"We want to see an INFINIA in the wallet of every jetsetter in India. We will redefine the lifestyle experience of the elite," said Pralay Mondal, the country head for retail assets and credit cards.

HDFC has credit card client assets under management of 50.5 lakh (approximately $113,000) as of 31 March 2011 and is looking to expand this as the country's ultra-rich population rises. According to the latest Merrill Lynch and Capgemini World Wealth Report, the number of high net worth individuals in India, or those with at least $1 million in investible assets, grew 20.8 per cent in 2010 to 153,000. 

A related study by VRL also forecasts that assets of affluent Indians are expected to reach $6.4 trillion by 2015, from this year's record of $3.5 trillion.