Festive season: Credit card spends jump 57% in September, shows data

Credit card spends jumped 57 per cent year-on-year (YoY) in September, aided by the festive season. 

According to the latest Reserve Bank of India (RBI) data, in September, credit card spends totalled Rs 80,477.18 crore compared to Rs 77,981 crore in August, thereby registering a 3.2 per cent growth sequentially, despite the high base.  In the corresponding period last year, credit card spend was to the tune of Rs 51,356.68 crore.

In July, credit card spends were to the tune of Rs 75,119 crore. Credit card spends are much higher than pre-pandemic levels. In January and February of 2020, credit