Once the pilot project is complete India’s largest insurer is likely to enter the card business.
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
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
While using a credit card one should be judicious and timely in repayment to avoid the huge charges imposed on delayed payment
Dipping consumer sentiment in the second run of the infection likely to extend the owes of the credit card sector
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
However, many of the respondents did not adhere to basic security norms like not sharing passwords or PINs or OTPs
Credit card growth going forward will be driven by multiple factors, such as, festival demand, growth in e-commerce segment and return to normalcy
One out of every three debit card holders in India uses SBI card
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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