Recently Released Market Study: Credit Cards in India
Credit cards in circulation increased by 1% to 18 million cards. However, the number of transactions increased 19% in 2012 to Rs342 million. The number of credit cards in circulation suffered a decline after the 2008 recession as most of the banks started moving away from the credit card portfolios in order to avoid the credit risk. Also, banks cleared out the accounts which were not paying back the credit loans along with the inactive card accounts. However, the usage...
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