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Credit cards gain more currency pipping debit cards for e-commerce

They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans

Topics
Credit Card | ecommerce | Debit cards

Ishaan Gera  |  New Delhi 



Photo: iStock
Moreover, credit card outstanding in the country had increased 30.7 per cent in June to Rs 1.53 trillion from Rs 1.17 trillion in June 2021, outstripping the pre-pandemic growth of 27 per cent in June 2019.

On August 24, the Reserve Bank of India lifted the 15-month restriction placed on American Express to acquire new domestic customers. The central bank had imposed restrictions on American Express and Diners Club for non-compliance with its April 2018 circular on the storage of system data. It lifted the ban on Diners Club in November 2021.

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First Published: Tue, August 30 2022. 17:38 IST

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