India’s credit card growth brings new profit pressure for banks
- India’s credit card market is growing, but banks are seeing lower profits as more customers use cards only to make purchases and repay the full amount on time.
- Banks are losing interest income as fewer users carry unpaid balances and pay interest on outstanding credit card dues.
- More customers are becoming 'transactors', clearing their monthly bills fully and avoiding high-interest credit card debt.
Source: economictimes.indiatimes.com
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