Spend and loan growth of credit cards slowed as lenders are cautious on asset quality: Nomura
New Delhi [India], September 27 (ANI): Spends and loan growth on credit cards are under pressure as lenders are cautious on asset quality issues, says a report by global financial service group Nomura.
Growth in credit card spending across the system has dropped to about 13 per cent year-on-year (y-o-y) in August 2024, down from 19 per cent in July 2024.
The Reserve Bank of India (RBI) credit card data for August 2024, ha