As Covid-19 hits consumption, credit card outstandings fall for 2 consecutive months

According to sectoral data on the deployment of credit, between February 28 and April 24, the credit card outstanding in the system dropped 12.6% to Rs 96,978 crore. Important reasons behind the fall in outstandings are the ban on the supply of non-essential goods by e-commerce platforms as also rail and air travel.

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Sources