Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Credit card delinquencies increase by 110 bps to 7.6%
The Morning Standard
|December 15, 2024
INDICATING the rising indebtedness of individuals and households, delinquency rates among credit card issuers or the portfolio at risk in the banking parlance, have risen by as much as 110 basis points to 7.6% as of June 2024 from 6.5% in June 2023.
While the numbers from an analysis by a credit information bureau Crif Highmark, is for the June quarter, when banks didn't report much stress, in the second quarter nearly all issuers, led by Kotak Mahindra Bank, IndusInd Bank, RBL Bank and Axis Bank, among others, had reported higher delinquencies.
The average balance per card also rose to ₹32,233 by June 2024 from ₹28,919 in June 2023, the report said, indicating the rising indebtedness of cardholders.
This story is from the December 15, 2024 edition of The Morning Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Morning Standard
The Morning Standard
Israel orders evacuation of Gaza City hosp
ISRAELI forces showed no signs of relenting on their new ground offensive in Gaza City on Monday as world leaders gathered in New York for the United Nations General Assembly and more countries prepared to join the surge of nations recognising a Palestinian state.
1 min
September 23, 2025
The Morning Standard
Op Kavach: Cops raid 2K spots in city
UNDER \"Operation Kavach 10.0\", the Delhi Police has arrested 120 drug peddlers in 96 NDPS cases while recovering of a substantial quantity of drugs, along with Rs 21 lakh cash. Police conducted raids at 2,003 locations across the capital and arrested over 800 people for different offences.
1 mins
September 23, 2025
The Morning Standard
JMI stir over detention of students
STUDENTS at Jamia Millia Islamia (JMI) organised a protest in response to detentions during a march held on Monday to mark the 17th anniversary of the Batla House encounter.
1 min
September 23, 2025
The Morning Standard
Multi-level electric bus depot soon
Facility to house 384 electric buses | NextGen GST reforms yielding tangible benefits, says CM.
1 mins
September 23, 2025
The Morning Standard
HC seeks varisty reply in plea on EVM tampering in DUSU polls
THE Delhi High Court on Monday sought the response of the chief election officer of Delhi University Students' Union on a plea challenging the result of the recently held DUSU polls in the capital.
1 min
September 23, 2025
The Morning Standard
Waste chokes Munak Canal stretch
Govt to rope in contractor in first phase of cleanup to transfer 48,782 metric tonnes of garbage
2 mins
September 23, 2025
The Morning Standard
3 held for duping people in fake govt programmes
THREE men were arrested for allegedly luring people to register as vendors in the 'Rashtriya Gramin Saksharta Mission' (RGSM), which they falsely projected as a Government of India scheme. Under this, vendors were assigned to supply school uniforms for students from underprivileged sections in various states, police said.
1 min
September 23, 2025
The Morning Standard
Jaishankar discusses issues of 'current concern' with Rubio
EXTERNAL Affairs Minister S Jaishankar and US Secretary of State Marco Rubio on Monday held their first in-person meeting ever since Washington imposed steep tariffs on key Indian exports over New Delhi's continued purchases of Russian oil.
1 min
September 23, 2025
The Morning Standard
No splurging on Diwali gifts this season: FinMin to govt depts
THE central government ministries and departments will have a frugal Diwali this year.
1 min
September 23, 2025
The Morning Standard
Britain weighs waiving visa fees to attract global talent
THE UK government is looking at bolstering a drive to attract global talent with a possible visa fee waiver to support the world's top science and tech talent relocation to the country, a media report said on Monday.
1 min
September 23, 2025
Listen
Translate
Change font size