Kolkata: Credit cards are becoming popular fast in India. If the expenditure during the festive season is any indication, they rose to record highs, driven by the higher consumption nudged up both by the GST rejig and the festive demand. In a report, SBI Research, the think tank of the country’s biggest lender, State Bank of India, it was mentioned that the on September 23, more than 1 crore credit card transactions were performed, show data released by the Reserve Bank of India.

“By looking at the daily settlement data release by RBI (Data Releases – Reserve Bank of India), more than 1 crore credit card transactions were done on 23 Sept 25, with a value of more than Rs 6400 crore, compared to the average transaction of ~70 lakh, with average value of Rs 4200 crore,” said SBI Research in

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