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Once the pilot project is complete India’s largest insurer is likely to enter the card business.
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Google Pay has now added debit cards by SBI, IndusInd Bank, and Federal Bank and credit cards by IndusInd Bank and HSBC India to its slate
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A high interest rate on credit cards, as high as 40-50% per annum, along with late payment fees, is very difficult to handle for any individual
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While using a credit card one should be judicious and timely in repayment to avoid the huge charges imposed on delayed payment
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Dipping consumer sentiment in the second run of the infection likely to extend the owes of the credit card sector
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The freedom provided to credit cardholders in accessing the sanctioned credit limit increases the credit risk for card issuers. This is usually compensated by charging higher interest rates
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However, many of the respondents did not adhere to basic security norms like not sharing passwords or PINs or OTPs
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Credit card growth going forward will be driven by multiple factors, such as, festival demand, growth in e-commerce segment and return to normalcy
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One out of every three debit card holders in India uses SBI card
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If used wisely and in a disciplined manner, it can help manage your cash flow, reduce the cost of purchases and avail various free lifestyle benefits
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