Credit card spending fell by more than 12% in a row, with the average spend in the month of November being around ₹14,280, compared to ₹16,343 in October, according to data released by credit cards. reserve Bank of India ,reserve Bank of India) Has shown.
At the aggregate level, credit card spends continued to cross the ₹1 lakh crore mark for the ninth consecutive month.
Credit card spend per card on the e-commerce platform stood at around Rs 8,495 as against Rs 9,473 in October. “We expect card spends to decline further over the next few months due to the end of the festive season and the impact of inflation on consumer spending,” said Bunty Chawla, analyst. IDBI Capital. The average credit card spend was ₹13,857 in June and ₹14,478 in July.
The number of transactions per card also declined in line with the decrease in per card spend – 2.9 transactions compared to 3.2 in October.