India Credit Card Spending Slips 2.8% in August as New Card Additions Slow
Indiaโs credit card market showed signs of moderation in August, with spending falling 2.8% month-on-month to โน2.02 lakh crore from โน2.08 lakh crore in July. The slowdown came alongside a softer pace of new card issuance, as banks added 1.19 million cards during the month, down 5.6% from July, even as the total outstanding card base rose to 124.1 million.
