PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Indian Credit Card Market Growing After Economic Slowdown

By Mercator Advisory Group
May 20, 2013
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Indian banks are increasing their credit card issuance for the first time since the financial crisis started five years go.

From the Hindustan Times:

Card issuance by banks and financial institution grew by 11% to 19.6 million in 2012-13 according to the Reserve Bank of India (RBI) data. From the peak 27.55 million in 2007-08, card issuance had fallen to 17.65 million in 2011-12.

The credit card market in India is one of the most underdeveloped in all major developed and developing markets. There are less than 20 million credit cards in circulation, which represents a penetration rate of about 1.7% among the country’s 1.2 billion population.

Existing credit cardholders appear to be less affected by the financial crisis as credit card spending continued to grow rapidly during the same period, albeit from a still very small base.

Unlike the decline in the number of cards issuance, spending through credit cards continued to increase in the past five years. It rose 29% to Rs. 124,393 crore in 2012-13 from Rs. 96613 crore in previous fiscal.

Click here to read more from Hindustan Times.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Credit

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    ai credit card

    Smart Cards: How AI Is Changing the Credit Industry

    July 23, 2025
    accounts payable

    A Fragmented Accounts Payable Process Is a Liability in More Ways Than One

    July 22, 2025
    PayDay Lending: Out on the Fringes and Still an Ugly Business, payday lenders, Payday lending rule, national debt, changing relationship with money

    Legislation Requiring Cash Acceptance Faces an Uphill Battle

    July 21, 2025
    supply chain payments

    The Payment Process: The Supply Chain’s Most Overlooked Cyber Risk

    July 17, 2025
    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    July 16, 2025
    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    July 15, 2025
    Embedded Finance

    Embedded Finance: Bringing Payments Under a Single Umbrella

    July 14, 2025
    Making Real-Time Payments a Reality

    Fulfilling the Promise: Making Real-Time Payments a Reality

    July 10, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result