look news india
Mumbai: While the Reserve Bank of India (RBI) is trying to reduce the amount of unprotected loans like personal loan and credit card, on the other hand the number of credit cards issued by banks in the country is increasing. .
In December 2024, the number of credit cards issued by banks in the country was at a four -month high of 8.20 lakhs. This number was 3.50 lakhs in November. Thus there has been a huge increase in the number of credit cards issued.
However, the number of new cards in December 2024 is 57 percent less than December 2023.
As a result of an increase in purchases through credit cards, banks are offering credit cards with various schemes, due to which the attraction towards the card is increasing. During the festivals, not only is there a crowd in online shopping, but schemes like cash discounts are quite beneficial, so credit card shopping is seen more.
If we talk about 2024 throughout the year, then 1.01 crore new credit cards are connected on a pure basis. At the end of 2024, the total number of credit cards in the country was 10.80 crores.
In November 2023, the Reserve Bank increased the risk load in November, 2023 due to unsecured individual debt in the banking system and a huge increase in the number of credit cards.
In a recent report, connecting the Rupay Credit Card with the Unified Payments Interface (UPI) has seen a huge increase in the use of the Rupay Credit Card. In the year 2024, a transaction of Rs 14,000 crore took place through credit card per month, while the total value of the transaction through all types of credit cards was Rs 1.80 lakh crore.
