Credit card spend hit an all-time high in May, reaching *1.14 trillion and registering 8 per cent month-on-month growth over April, reveals the latest data released by the Reserve Bank of India (RBI). On a year-on-year (YoY) basis, card spend grew 118 per cent.
The banking system also saw healthy 1.7-million credit card additions in May - the highest in 27 months and 23.2 per cent higher than in the same month last year.
The surge in card additions was led by HDFC Bank, Axis Bank, SBI Card, and ICICI Bank. With May's additions, the country's total card base is now at 76.9 million.
HDFC Bank added 38,500 cards in May, followed by Axis Bank (21,500), ICICI Bank (21,200), and SBI Card (20,200).
Esta historia es de la edición June 28, 2022 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 28, 2022 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Adani, Tata Eye Bigger Pie In Mumbai Power Distribution
Battle for high-value customers heats up amid increased EV penetration
Al Inside: Tech Eases Work For IT Firms
It simplifies and automates routine tasks and helps employees to focus on the big picture
Fertility Rates Linked To Education, Wealth
Income levels and the number of years a person spends in school are inversely related to the size of families they decide to raise.
Musk In Beijing In A Bid To Push Tesla Autopilot Tech
Tesla chief executive officer (CEO) Elon Musk arrived in Beijing on Sunday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of Full Self Driving software and permission to transfer data overseas, according to a person with knowledge of the matter.
Shipping To Shopping, AI Is Making Food Safe
Concerns about food safety rise periodically as more information about the impact of chemicals is revealed.
'Taiwan keen to help India become leader in chip space'
Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs.
No cancer-causing agents in our products: MDH on quality claims
MDH Spices has denied allegations that its products have traces of cancer-causing agent ethylene oxide (ETO), calling them \"untrue\" and \"lacking any substantiating evidence.
RIGHT TO A FUTURE
The apex court has made an 'observation' on the right to be free from the adverse effects of climate change. Can this pave the way to a cleaner future?
How to make insolvency law solvent
The IBC has served the purpose by creating the fear of god among rogue promoters. It's time to plug the loopholes in the law and make the defaulters understand that the IBC isn't just all bark and no bite
To fund AI boom, tech plans plumbing upgrade
Microsoft, Meta and Google's parent Alphabet are going to spend billions on infrastructure
