India Credit Card Spending Falls 2.8% in August as New Card Additions Slow
India’s credit card market showed signs of moderation in August, with spending slipping 2.8% month on month to ₹2.02 lakh crore from ₹2.08 lakh crore in July. Although spending remained 5.9% higher than a year earlier, the slowdown in fresh card issuance and softer monthly transaction growth point to a cooling pace in consumer credit expansion.
