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Online transactions push credit card spend to new highs
The spending through credit cards in April 2024 increased by 18 percent to Rs 1.57 lakh crore
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Credits cards in use just short of 100 million
In the calendar year 2023, the country witnessed the inclusion of 16.71 million new credit cards, marking a significant upswing from the 12.24 million
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Old loans, revolving credit haunt SBI Cards
The bank’s proportion of revolving creditors i.e. those who carry forward their pending balances instead of paying them off completely has been stag
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Festive offers on card transactions: Check out offers
Lenders like Kotak Mahindra Bank, SBI, HDFC, PNB have already slashed interest rates on home loans ahead of the festive season.
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These two stocks to benefit most as credit card biz picks up momentum
The forthcoming festive season will lend further support to the picked-up momentum in the spends and new customers sourcing.
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SBI Card raises Rs 500 crore by issuing bonds
SBI Card will offer a coupon rate of 5.70% per annum on the bonds
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Promoters, FPIs, DIIs raised stakes in these 11 firms in Q1
These companies in the list include SBI Cards & Payment Services, Tanla Platforms, Lux Industries, Jindal Stainless (Hisar) and Bharat Rasayan
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Stocks to watch: RIL, YES Bank, ITC, MCX, ICICI Bank
RIL on Friday reported a 7.25% year-on-year fall in consolidated net profit at Rs 12,273 crore for the quarter ended June 30.
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Why analysts are bullish on SBI Cards and Payment
JP Morgan also initiated the coverage on SBI Cards with a price target of Rs 1,200
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Trading ideas: Check out these stock recommendations for next week
Trading ideas: A move above 34,800 might bring the financials again into the trader’s radar
