Business Standard

Sunday, December 22, 2024 | 05:55 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Credit card spend crosses Rs 1 trillion first time in a month: RBI

Among major credit card players, ICICI Bank has been the most aggressive

Credit card
Premium

Photo: Shutterstock

Subrata Panda Mumbai
Buoyed by the festival season euphoria, credit card spends for the first time crossed Rs 1 trillion in a month in October, revealed the latest figures released by the Reserve Bank of India (RBI) on Thursday.

Spends in October registered a growth of over 25 per cent month-on-month, despite a high base of last month. On a year–on–year basis, credit card spends jumped 56 per cent. In the corresponding period last year, credit card spends were to the tune of Rs 64,891.96 crore.

The earlier highest one-month spend came in September this year at Rs 80,477.18 crore. The month before,

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in