Credit Cards

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

Cross Rs 1 trillion for 11th month in a row

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

The bank said for select products and vouchers, redemption of reward points will be capped at 70 per cent of the total value, but this is not applicable for Infina and Diners Black cards

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

Replace high-cost credit card debt with lower-cost loan against an asset

There could also be a third scenario where the interest cost is added to the product price and then the higher price is converted into EMIs

OTP-based consent requirement for delayed activation will safeguard users against false applications, unwanted cards

industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through

Despite a demand by smaller merchants to delay the compliance date, there has been no indication so far by the central bank that there is likely to be an extension in deadline

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

There was lack of clarity on whether the RBI will extend this facility to credit cards of other card networks, such as Visa, Mastercard, etc

The Indian Banks' Association (IBA) has sought a probe by the Competition Commission into possible cartelisation among vendors providing chip-based debit and credit cards to banks. IBA has received complaints of jacking up of card prices by various vendors, citing shortage of chips, and the hike in the prices is in a similar range, raising fears of cartellisation, sources said. Following the complaints, IBA has written a letter to the Competition Commission of India (CCI) seeking a probe into the issue and has also intimated the finance ministry about the matter. According to a senior bank official, last year, 4-5 large card vendors approached lenders saying that shortage of chip has led to an increase in the prices. So, all banks agreed for a rise in the prices of cards from Rs 35 to about Rs 42 per unit, the official added. Three months ago, these vendors again approached the banks, saying the prices have further increased. However, only large private bank agreed for another Rs

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

Tata Neu customers can apply for the cards on the Tata Neu app and access its key details; Each of the two variants of the card will be available on both RuPay and Visa networks

'Difficult situation' caused by unintended people getting benefits of credit programmes now over, she says

Notwithstanding MoM decline, spends up fourth month on the trot