{"id":11002,"date":"2022-06-28T15:30:00","date_gmt":"2022-06-28T10:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-rbi-card\/"},"modified":"2022-06-28T15:26:43","modified_gmt":"2022-06-28T09:56:43","slug":"biz-rbi-card","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-rbi-card\/","title":{"rendered":"Credit card spend crosses Rs 1.13 lakh cr in May: RBI data"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3087724309\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Credit card spending has crossed Rs 1.13 lakh crore in May compared to Rs 1.05 lakh crore in the previous month according to official data.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2551543414\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The month-on-month rise in spending through cards indicates a pick-up in economic activity.<\/p>\n<p>The latest data from the Reserve Bank of India (RBI) showed that 7.68 crore credit card holders spent about Rs 71,429 crore for buying online, while the amount was spent through swipes at Point of Sale (PoS) machines stood at Rs 42,266 crore in May.<\/p>\n<p>In terms of the number of transactions, credit card payments were marginally lower online at 11.5 crore against 12.2 crore offline or at PoS machines.<\/p><div class=\"trade-content_5\" id=\"trade-3442607393\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The trend also indicates that cardholders are making higher value transactions online on an average than through offline means.<\/p>\n<p>Credit card holders spent Rs 65,652 crore for buying online, while the amount spent through Point of Sale (PoS) machines was Rs 39,806 crore in April.<\/p>\n<p>As far as the debit card is concerned, the spending through PoS and online together was Rs 65,957 crore during the month.<\/p>\n<p>The spending through PoS was Rs 44,305 crore against e-commerce spending of Rs 21,104 crore through the debit card in May.<\/p>\n<p>During the month, there has been an addition of about 20 lakh credit cards. The number of the card was 7.51 crore in April.<\/p>\n<p>HDFC Bank had the highest number of credit cards at 1.72 crore in May as the RBI lifted the ban on the issuance of new credit cards in March.<\/p><div class=\"trade-content-10\" id=\"trade-4115861047\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>In terms of credit cards, HDFC Bank was followed by the State Bank of India (1.41 crore) and ICICI Bank (1.33 crore) at the end of May 2022.<\/p>\n<p>The RBI had imposed a ban on HDFC Bank in December 2020, asking the lender to stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after repeated outages at its data centre, which impacted operations.<\/p>\n<p>The ban was partially lifted in August last year and fully in March this year. PTI DP NKD BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-1966318339\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Credit card spending has crossed Rs 1.13 lakh crore in May compared to Rs 1.05 lakh crore in the previous month according to official data. The month-on-month rise in spending through cards indicates a pick-up in economic activity. The latest data from the Reserve Bank of India (RBI) showed that 7.68 crore credit card holders [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":31972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-11002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Credit card spend crosses Rs 1.13 lakh cr in May: RBI data - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-rbi-card\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit card spend crosses Rs 1.13 lakh cr in May: RBI data\" \/>\n<meta property=\"og:description\" content=\"Credit card spending has crossed Rs 1.13 lakh crore in May compared to Rs 1.05 lakh crore in the previous month according to official data. 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