New Market Report Now Available: Credit Cards in India
The end of the review period witnessed an increase in the use and issuance of credit cards. This was observed due to increased annual disposable incomes, which saw consumers spending more. The non-performing assets for the card lending portfolio of all banks combined also witnessed a decline, along with the number of defaulters. Following the recession at the start of the review period, banks stopped issuing new credit cards without thorough background checks in order to avoid new defaulters.
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