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Data▼ Bearish for Indian equities
Credit card spending falls 2.8% to ₹2.02 lakh crore in August
The brief
- August credit card spending fell 2.8% from July’s ₹2.08 lakh crore to ₹2.02 lakh crore
- Online credit card spending declined 7%; outstanding cards rose to 124.05 million
- Slower card spending may weigh on lenders and payment firms exposed to consumer credit growth
- Morning Bid: A new neutral rate, much like a decades-old one
- AI hyperscalers are transforming debt
- Nomura expects RBI to raise rates by up to 50 bps by December
- HDFC Bank CEO's to-do list in coming weeks: Growth, Casa, investor trust
- High credit-deposit ratio does not signal funding vulnerability: RBI report
August credit card spending and market shares
Credit card spending fell 2.8% to ₹2.02 trillion in August, while outstanding cards rose to 124.05 million. Industry spending growth slowed to 5.5% from 7.1% in July.
Friday, 25 September
Thursday, 24 September
- Credit card spending falls 2.8% to ₹2.02 lakh crore in August