Credit card spends touch all-time high of Rs 1.16 trillion in July

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

Credit card spends touched an all-time high of Rs 1.16 trillion in July, registering a growth of 6.5 per cent on a month-on-month basis and 54 per cent year-on-year, latest data put out by the Reserve Bank of India revealed. Spends have topped the Rs 1 trillion level for five consecutive months now.

Industry participants are expecting further tailwinds in credit card spends with the onset of the festive season, where spends typically remain at an elevated level. Many issuers have lined up special offers on credit cards to boost festival spending and going by recent trends, they