Active credit cards drop 2.3 million in August over new RBI norms

The outstanding credit card base dropped to 77.99 million in August from over 80 million in July, mainly on account of the new norms of the Reserve Bank of India (RBI) that warrant the deactivation......

June credit card spends remain above Rs 1 trn

Credit card spends in June, although down marginally month-on-month (MoM), remained above the Rs 1-trillion mark for the fourth consecutive month. Illustration: Uttam Ghosh/Rediff.com In June,......

Credit card spend jumps 48% to top Rs 1 trillion in March

Spending through the credit card in March 2022 jumped 48 per cent year-on-year to top Rs 1 trillion -- five months after it had hit the same figure for the first time in October 2021, buoyed by......

What acquisition of Citi's retail biz means for Axis Bank

The quality of customers it acquires holds the key to success but the benefits of the buyout could kick in only from FY25. Manojit Saha and Subrata Panda report. Photograph: Arko Datta/Reuters......