According to the latest data released by the Reserve Bank of India (RBI), September spending reached ₹1.76 trillion, compared to ₹1.42 trillion in the same period a year ago. In August 2024, credit card spending was ₹1.68 trillion.
Experts attributed this healthy growth to festival demand and a favourable base effect.
"The growth in credit card spending is driven by a lower base in the previous year and the festival season. There has been an increase in promotional schemes like equated monthly instalments during the festival period. Looking ahead, October is also likely to see a rise in spending due to the festival season and associated promotional activities," said Saurabh Bhalerao, head of BFSI research at CareEdge Ratings.
Denne historien er fra October 30, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 30, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Centre readies plan to sell up to 20% in 5 PSBs
Govt may consider both OFS and QIP routes for diluting its stake
RBI Frees Up Bank Capital With NBFC Risk Weight Rollback
With bank loan growth slowing over the past year, the Reserve Bank of India (RBI) has decided to reverse its decision to increase the risk weight of bank loans to non-banking financial companies (NBFCs), which will result in a substantial release of capital for banks.
Delhi lost ₹2K cr due to liquor policy: CAG
A Comptroller and Auditor General (CAG) report, tabled in the Delhi Assembly on Tuesday, has faulted the excise policy introduced by the previous Aam Aadmi Party (AAP) government in 2021 to have caused cumulative losses worth over ₹2,000 crore to the Delhi government.
Capex slows in FY25 but key infra, power players set to benefit
Post-election capital expenditure (capex) has been weak at 2 per cent year-on-year (Y-o-Y) in M9FY25.
Nifty nears 2nd-worst losing streak in 30 yrs
Amid the fall, one in every five Nifty stock is more than 28% down over the past five months
Ericsson to help Airtel shift to 5G standalone
Ericsson will be supplying key 5G equipment to telecom operator Bharti Airtel for seamless transition to a commercially live, full-scale 5G Standalone (SA) network over time, the Swedish telecom gear maker said on Tuesday.
Road to Decentralisation
Rural local bodies need to be strengthened
Bitcoin slides below $90K as crypto selloff gathers steam
The Fall
Sebi slaps ₹5 cr fine on ICCL for audit, cybersecurity lapses
The Securities and Exchange Board of India (Sebi) on Tuesday imposed a ₹5.05 crore penalty on Indian Clearing Corporation Ltd (ICCL), a wholly owned BSE subsidiary, for failing to comply with cybersecurity and system audit norms.
Microfinance loan book shrinks 3.5% to ₹3.85 trillion in Dec qtr
The gross loan portfolio in the microfinance segment shrunk by 3.5 percent year-on-year (Y-o-Y) to ₹3.85 trillion during the third quarter of financial year 2025 (Q3FY25) as the period was marked by curtailed funding and strict credit underwriting.
