Home Credit cards Credit card usage up, outstanding payments zoom 39% a year after demonetisation

Credit card usage up, outstanding payments zoom 39% a year after demonetisation

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If the information released by the Reserve Bank of India (RBI) is believed, most people use credit cards after damaging. There is also a spike in a number of cardholders indebted to the banks. By the end of September 2016, the total credit card was Rs. From Rs 43,200 crore to Rs. 59,900 crore. 39 percent growth.

In comparison to the two years of the two, the increase was more than 77.4%. The cash crunch which led to the monetary crisis has led to payments to digital technologies.

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The credit card number of credit cards has also increased, not the best of credit cards. By the end of August 2017, by the end of August 2016, the number of credit cards reached 32.65 million from 26.39 million.

The credit card is the best amount to pay for the banks. Banks charge a significant amount of 1.5% and 3.49% per month. Higher interest rates are attributable to the high incidence of default in this segment.

In addition to raising credit card usage and entering the best amount on it, banks are looking at credit growth during a year in housing loans and personal loans.

By the end of September 2016, personal bank loans of Rs. $ 3262 billion increased by $ 4468 billion by the end of September 2017 to a 19% growth. Advance to housing sector Rs. From $ 8058 billion to $ 9086 billion. RBI data revealed.

Loans for consumer durables dropped from $ 195 billion to $ 178 billion.

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