Growth in credit card spends is here to stay: Rama Mohan Rao Amara

Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

Credit card spends have topped Rs 1 trillion for five consecutive months. The issuance of new cards has seen momentum of late. RAMA MOHAN RAO AMARA, managing director and chief executive officer, SBI Card, in conversation with Subrata Panda talks about the reasons behind record spends, the company’s ideal run rate of credit card issuance, and the impact of the Reserve Bank of India’s (RBI’s) discussion paper on payment charges. Edited excerpts:
 

Credit card spends have seen momentum since October.
 

Core retail spends have been robust for all players. Per card spends have been rising. While growth in the number