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June credit card spends remain above Rs 1 trillion-mark, shows data

Notwithstanding MoM decline, spends up fourth month on the trot

Topics
Credit cards | RBI

Subrata Panda  |  Mumbai 



credit cards
The banking system added over 1.84 million credit cards in June, taking the outstanding credit cards in the system to 78.72 million.

Credit card spends in June, although down marginally month-on-month (MoM), remained above the Rs 1-trillion mark for the fourth consecutive month. In June, credit card spends topped Rs 1.09 trillion, down 4.34 per cent MoM, revealed the data released by the Reserve Bank of India (RBI). However, on a year-on-year basis, spends were up 73 per cent.

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First Published: Tue, August 02 2022. 18:56 IST

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