Credit card growth, record high credit consumption signals a pick-up

[ad_1] Credit Card Additions and Expenses Climb Fastest May In recent quarters, underscoring the fading effect of Covid-induced disruptions on consumption habits, a growing number of urban Indians have taken long holidays and bought high-ticket discretionary items after being nearly padlocked for two consecutive summers. The banking industry added 1.7 million cards in May, the highest in 27 months. Extraordinary Loan It was the highest ever on credit cards, breaking the ₹1.54-lakh-crore mark. “The latest data shows that credit card spend have been very strong, touching an all-time high (up…