Credit card dues outstanding rising
Rising credit card debt in India (₹2.9 lakh crore outstanding, delinquencies up 44% YoY to ₹33,886 crore) implies growing consumer spending and financial inclusion, but also risks like defaults amid inflation and income inequality. Banks are tightening approvals to curb NPAs.
Globally, similar trends: US debt hit $1.1T (2024), China ~60% GDP household debt. India's 42% GDP is lower, but rapid rise warrants caution. more
Globally, similar trends: US debt hit $1.1T (2024), China ~60% GDP household debt. India's 42% GDP is lower, but rapid rise warrants caution. more
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Credit Cards are mostly used by the people in the organised sector. Most of the spend is cyclical and starts peaking at certain times during the year. Unless delinquent, growth of such debt is not a complete cause of worry. The delinquency as reported by banks generally tends to be aggressive in nature as credit cards are unsecured loans. However, data over a one-year time horizon needs to be looked at to perceive the actual position. more
Aug 11
Yes, Very good point.It indicates something the financial experts and the families have to analyse and tide the issues, How ever on a positive note:- If the actual employment numbers have increased or 2, Purchase capacity increase due to increase in wage 3.If these card givers ( Indian:- Banks and financial institutions) are approaching villages and it's farmers it should be welcomed as a positive note. - Of all of the Credit card charges for beyond the first month ( interns of financeing) are reduced:- it helps in the growth of the society and the industry. Thanks to you more
Aug 08
