Credit Cards: Spends to see pickup, but stricter practices may limit growth

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Credit Cards: Spends to see pickup, but stricter practices may limit growth - Business Standard

Quick Summary:

Typically, during the festive season (September-December), credit card spends peak as various credit card-issuing banks offer discounts, cashback, etc.

Data showed that the balance-level delinquencies in the credit card segment stood at 1.8 per cent, the highest among all other credit segments.

SBI Cards’ spends dropped 1.48 per cent to Rs 26,480 crore; ICICI Bank’s spends dropped 5 per cent to Rs 32,542 crore; and Axis Bank’s spends declined by 4.47 per cent to Rs 19,589 crore, the RBI data shows.“Credit card spending is likely to pick up in the upcoming festive months.