6
Credit card transactions in India reached a total of ₹2,194 billion in March, marking a 24 percent rise from the previous month. While monthly growth was robust, analysts point out that the annual growth rate of 8.9 percent indicates the sector is moving from a high-growth phase toward normalization. Data reveals that new card issuances grew by 7.96 percent year-on-year, bringing the total number of active cards to nearly 11.8 crore. Spending per card also saw a sequential jump of 22.8 percent.
