In February 2024, the RBI data showed that credit card spending reached Rs. 1.5 lakh crores, a 26% annual growth. Within these spends, the usage of credit cards for payments like rent, tuition fees, vendor payments, society maintenance, etc., to individuals has picked up in the last few years. The RBI is not comfortable with … Read more
The Indian economy has been doing well, with three consecutive quarters of 8%-plus growth so far in FY24. During this period, the banking sector’s credit growth has increased nearly 17% to ₹160 trillion, according to data from the Reserve Bank of India (RBI). Credit card debt has risen by 23% to ₹2.5 trillion, which is … Read more
According to the latest RBI data, in February 2024, the total number of credit cards issued by banks in India crossed the 100 million milestone, registering an increase of 1.1 million cards from the previous month. While this highlights the increasing popularity of credit cards, it also suggests a potential uptick in credit card fraud … Read more
