Credit Card Industry

February typically sees a slight dip in spends compared to other months because it has fewer days. In January, spends had touched Rs 1.26 trillion, the second highest figure ever

Net card addition fell substantially in December to 580,000

Beware that on some expenses you could be levied a fee for card usage

Attributes trend to value-added services such as EMI and BNPL which are allowing consumers to use cards for big-ticket transactions, as opposed to small-ticket earlier

On a year-on-year (YoY) basis, spends were up over 25 per cent, despite a high base

In a Q&A, R Subramaniakumar dwells on the lender's strategy to fuel growth in credit cards and microfinance, and plans to mop up deposits in an increasingly difficult market

When you are considering canceling a card, it should be taken into account how the cancellation of your credit card will affect your credit score

SBI Card was exception as gains card base, market share

Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year

Spends decline 3% MoM but top Rs 1 trn for sixth consecutive month

Samsung Axis Bank Credit Card will allow customers to avail of a 10 per cent cashback across all Samsung products and services throughout the year

Defying the after-effects of pandemic-related pay cuts and job losses, the credit cards business is booming like never before

Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

Spends have topped Rs 1 trillion level for five consecutive months now

They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans

Axis Bank is satisfied with the performance of Citi India's credit card portfolio when gauged by spends and Non-Performing Assets (NPAs), executive from the third largest private sector lender said

Banks and non-banking financial companies (NBFCs) were to implement the Master Direction on 'Credit Card and Debit Card - Issuance and Conduct Directions, 2022' from July 1.

Expenditure on food and utility bills remained consistent during all months while food and beverages saw high spending after the lockdown restrictions were eased from July to October

Credit card spends are much higher than pre-pandemic levels.

National Payment Council of India chairman says, 'If the networks charge heavily the entire system will fail'