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Credit card use up a year after demonetisation

Credit card use up a year after demonetisation
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Nearly a year after demonetisation, credit card usage has seen a sharp rise with outstandings rising 38.7 per cent during the 12 months ended September 2017. The total credit card outstandings — money spent by card holders and not repaid to the card company or bank — surged to Rs 59,900 crore at the end of September 2017, against Rs 43,200 crore in the same period last year, according to data released by the Reserve Bank of India (RBI) on Tuesday.

Read the full story at http://indianexpress.com/article/business/business-others/one-year-after-demonetisation-credit-card-use-up-but-balance-due-surges-by-39-per-cent-4916475/

SOURCE: The Indian Express

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