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 New Indian Express Bhubaneswar
|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 New Indian Express Bhubaneswar.
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 New Indian Express Bhubaneswar
The New Indian Express Bhubaneswar
JLR to resume production following cyber attack
TATA MOTORS’ British subsidiary Jaguar Land Rover (JLR) on Monday said it will partially resume manufacturing operations in the coming days after being hit by a cyber attack that brought its production to a complete halt earlier this month.
1 min
September 30, 2025
The New Indian Express Bhubaneswar
Italian PM’s ‘Mann ki Baat’ with Modi foreword
THE Indian edition of Italian Prime Minister Giorgia Meloni’s autobiography, “I Am Giorgia: My Roots, My Principles”, with a foreword by Prime Minister Narendra Modi, is set for release in bookstores across India between October 5 and 7.
2 mins
September 30, 2025
The New Indian Express Bhubaneswar
Canada terror lists Bishnoi gang
CANADA on Monday listed the Lawrence Bishnoi gang as a terrorist entity for creating a “climate of fear and intimidation”.
1 min
September 30, 2025
The New Indian Express Bhubaneswar
Goyal says UP now unstoppable as investment destination, praises Yogi
THE third edition of the Uttar Pradesh International Trade Show (UPITS-2025) concluded on Monday with Union Commerce and Industry Minister Piyush Goyal calling it a showcase of India’s economic and cultural strength.
1 min
September 30, 2025
The New Indian Express Bhubaneswar
Diabetics should get kidney function tested every 6 mths
Kidney disease is emerging as a silent epidemic, affecting millions across the globe.
2 mins
September 30, 2025
The New Indian Express Bhubaneswar
India's first European trade pact with EFTA to come into effect from Oct 1
INDIA WILL be implementing its first Europe-oriented trade agreement from October 1, confirmed Commerce and Industry Minister Piyush Goyal.
1 min
September 30, 2025
The New Indian Express Bhubaneswar
Bhutan to be connected with India via rly network, 2 projects launched
INDIA and Bhutan will soon be connected by rail, as the Ministry of Railways announced two major cross-border projects on Monday.
1 mins
September 30, 2025
The New Indian Express Bhubaneswar
Govt raises workday to 10 hrs, OKs night shift for women
THE state government on Monday extended the maximum daily work hours for all categories of commercial establishments from existing nine to 10 while allowing women employees to work night shifts and enhancing overtime wages for the workers.
1 mins
September 30, 2025
The New Indian Express Bhubaneswar
SUPPORT DIALOGUE, NOT DOGMA
DISCUSSIONS about Indian knowledge systems (IKS) resurfaced after the University Grants Commission released its draft Learning Outcome-based Curriculum Framework, which aims to embed 'ancient Indian wisdom' across subjects.
3 mins
September 30, 2025
The New Indian Express Bhubaneswar
Leh Apex Body to pull out of October 6 talks
THE Leh Apex Body (LAB) said on Monday that it would stay away from talks with the Centre till peace and normalcy is restored in Ladakh.
1 min
September 30, 2025
Listen
Translate
Change font size