Credit card spending drops to 7 month low

Credit card spending in India has reached a seven-month low, according to a report by Acuitee. Total expenditure on credit cards fell to Rs 1.672 billion in February, a decline of 9 per cent month-on-month from Rs 1.841 billion in January.

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While credit card spending showed a 12 per cent increase compared to February 2023, this growth is lower than the average year-on-year increase of around 30 per cent observed until January 2024, indicating a slowdown in c