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Credit card spending surges to record in India in sign of stress

Credit card spending surges to record in India in sign of stress
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Credit Card Spending Surges to Record in India in Sign of Stress

Credit Card Spending Surges to Record in India in Sign of Stress
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India s record high credit card spending indicates a potential risk

Credit card spending in India reached a historic high of 1.48 trillion rupees ($17.8 billion) in August, raising concerns about potential defaults. This surge in spending comes as indebted households are borrowing more in preparation for the festive season, highlighting a trend of increasing indebtedness and decreasing savings among Indians.

Rupa rege nitsureReserve bankGroup chief economistIndian economyCredit cardsBest credit cardCredit card purchasesIndia credit cardCredit card limitsCredit card spendingsFestival seasonDiwali dateFestive season demand

Growing Stress : Indians Credit Card Spending Reached Record High In August

Growing Stress : Indians Credit Card Spending Reached Record High In August
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A Matter of Concern if Household Savings Are Down and Liabilities Up: Former PMEAC Chief

A Matter of Concern if Household Savings Are Down and Liabilities Up: Former PMEAC Chief
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