NEWS & ADVICE : CREDIT CARDS
Growth in credit card dues by 2.1 percent
By Ankit Sharma
Oct 30, 2013
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Banks have seen the development in exceptional credits on charge cards relentlessly decay in the course of the most recent six months. Information from RBI demonstrated that banks have not been developing their charge card portfolios since May 2013 and the sum extraordinary credits in the frameworks have been floating at about Rs 23,000 crore. RBI information indicated that in August 2013, y-o-y development in Credit cards uses diminished to 12.18% to Rs 10,887.84 crore. This is far easier than the top of 39.73% development seen in November 2012.

Financiers say Credit cards uses have diminished since May and, consequently, their portfolios are not expanding. Credit card uses are the measure of cash transacted in a specific period, though exceptional credits are the cash that the clients owe to a bank, which incorporates the premium. Further the RBI’s measure to restrict the 0% EMI scheme turned out to be a major cause in driving credit card growth. In the mean time, investors additionally say that transactions on platinum cards are picking up additional force and ubiquity.


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