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Cut down on credit card expenses

The Reserve Bank of India's latest data indicate that spending per card is rising steadily - something that consumers should worry about

Image via Shutterstock
Image via Shutterstock

Customers seem to be happily swiping their credit cards. According to Reserve Bank of India (RBI)'s data on deployment of gross bank credit, the growth in credit card dues was 23.7 per cent over the previous financial year as on March 18. The total was Rs 37,700 crore, against Rs 30,500 crore in the same period last year. The value of credit card transactions as on February 2016 was Rs 20,921 crore, up from Rs 18,886 crore in January. In comparison, the value of debit card transactions at merchants came down in February to Rs 12,954 crore, from Rs 14,611 crore in January. And, the ...