Credit card spends increase by over 47% in December, shows data

Continuing with the growth momentum seen since the onset of the festive season, credit card spends in December jumped 47.54 per cent on a year-on-year (YoY) basis to Rs 94,202.44 crore (value of transactions at PoS and ATMs), latest data from Reserve Bank of India showed. 

Even on a month-on-month basis, spends were up 5 per cent despite a high base. In the corresponding period last year, spends totalled to Rs 63,847.26 crore.