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).
この記事は Business Standard の June 28, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Standard の June 28, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
RBI asks lenders to follow fair practices, refund excess sum
Concerned over some banks and lenders resorting to unfair practices in charging of interest, the Reserve Bank of India (RBI) on Monday directed them to take corrective action and refund excess charges to customers.
UPI credit line: NPCI may go easy on interchange fee
Could be kept at 1-1.2% in a bid to push adoption
Nearly 20 critical mineral blocks to be put up for sale by June-end
The Centre plans to auction roughly 20 critical mineral blocks in the upcoming round by the end of June, alongside the first instalment of offshore mineral auctions within the next three months, Mines Secretary VL Kantha Rao said on Monday.
Rivals misusing tech to spread fake videos: PM
Urges EC to take action
BJP has eyes on the road in UP
Amid the election razzmatazzin Uttar Pradesh, which accounts for 80 Lok Sabha seats, the Bharatiya Janata Party (BJP) is confident that the slew of expressway projects commissioned or envisioned under the Yogi Adityanath government will deliver favourable results for it.
Digvijaya looks to reignite old connect
82-kilometre from its capital Bhopal, Rajgarh is an ancient town in Madhya Pradesh, pinned close to the state's border with Rajasthan.
Cong's Indore candidate withdraws nomination
Indications were that Akshay Kanti Bam might join BJP
FM: UPA tenure was a lost decade
Finance Minister Nirmala Sitharaman said on Monday that India becoming the third-biggest economy is not an arithmetic inevitability but requires efforts and a visionary leader to accomplish it.
ICAI order on EY India affiliates may speed up notification of norms
Several affiliates of Big Four accounting firms in India are likely to receive orders similar to those issued to EY India from the Institute of Chartered Accountants of India (ICAI) in the coming weeks, but not everyone at these firms is disappointed development.
Bharat Biotech's Ella becomes IVMA president
The Indian Vaccine Manufacturers Association (IVMA) has announced Krishna M Ella, co-founder, executive chairman of Bharat Biotech as the association's new President for a two year period from April 2024.
