Credit card spends, transactions decline in January
2 years, 9 months ago

Credit card spends, transactions decline in January

Deccan Chronicle  

Mumbai: As the festive season ended, monthly spends per credit card for the industry declined 8 per cent month-on-month in January to Rs 12,500 though still higher than the average of Rs 11,700 over the past one year. The average spend however, remained stable at Rs 4,400 while the number of transactions per card reduced 9 per cent MoM to 2.8, according to the latest Reserve Bank of India data. All large players reported a decline in monthly spends per card with the highest fall seen by IndusInd Bank and AMEX. The total credit card spends for the industry declined 7 per cent MoM in January to Rs 88,040 crore.

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New credit card issuances plunge 50% in October to 7.8 lakh as against 16 lakh a year ago
2 weeks, 4 days ago

New credit card issuances plunge 50% in October to 7.8 lakh as against 16 lakh a year ago

New Indian Express  

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Credit Card Spends Rise Again in October
4 weeks ago

Credit Card Spends Rise Again in October

Deccan Chronicle  

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Credit Card Spending Soars 25% in September, Driven by Festive Demand
1 month, 3 weeks ago

Credit Card Spending Soars 25% in September, Driven by Festive Demand

ABP News  

Credit card spending surged by 25% in September, driven by increased festival demand and a favourable base effect. Experts attribute this growth to lower base in the previous year and the festival season. Some private banks have reported an increase in stress within the credit card and microfinance segments, but the growth rate of outstanding credit cards is slowing. The …

Credit cards in India to soon hit 100-million mark, RBI data reveals
10 months, 4 weeks ago

Credit cards in India to soon hit 100-million mark, RBI data reveals

Live Mint  

As of December 2023, there were 97.9 million outstanding credit cards, with a record 1.9 million additions during the month alone, the latest Reserve Bank of India data revealed. {{^adFree}} {{/adFree}} As of December 2023, there were 97.9 million outstanding credit cards, with a record 1.9 million additions during the month alone, the latest Reserve Bank of India data revealed. …

What's behind Indians' credit card spending surge in recent months?
3 years, 1 month ago

What's behind Indians' credit card spending surge in recent months?

Business Standard  

Indians’ credit card spends in September jumped 57% on a year-on-year basis to Rs 80,000 crore, according to the latest data from the Reserve Bank of India. This represents 3.2% sequential growth, despite a high base of Rs 77,981 crore in August.In the past six months, the average monthly spending on a credit card increased to about Rs 12,400 from …

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