By Admin 
Credit Card Bill Payment: Credit card expenditure has once again exceeded Rs 2 lakh crore in June. According to the new information from the Reserve Bank of India, people have spent a total of Rs 2.01 lakh crore through credit cards in June. Credit card spending has increased by 9.8% every year.
Even in May, credit card expenditure was Rs 2.02 lakh crore. But there has also been a decrease in the expenses of some big private banks in June. But, credit card spending data has been strong.
Increase of 9.36%
According to the data, credit cards are being used more than ever before. The number of credit cards has increased to 12.16 crore in June. There has been an increase of 9.36% as compared to last year. At the same time, the number of credit cards has increased by about 0.95% month-wise.
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There has been a difference in the expenses incurred on credit cards of many banks in June. Expenses increased in some banks, but also decreased in some banks. The reason for this is being said to be people’s spending style and increased use of digital payments.
Some private banks are still proceeding cautiously considering the risks associated with loans. For this reason, the growth of some private banks is no longer the same as before.
Government banks are getting a lot of benefits
Credit card spending has also benefited from increased use of UPI linked credit cards and RuPay credit cards. Especially government banks are getting the benefit from this. At the same time, new credit cards are also being issued continuously, due to which the number of card users is increasing.
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The number of new credit cards issued has also increased in June. Many banks have issued new cards. HDFC Bank, SBI Card, ICICI Bank and Axis Bank have also added new cards in June, due to which the total number of cards has increased further.
The increased use of credit cards shows that people are now adopting digital technology to buy goods and make payments. But, credit card money should be paid on time, due to which excessive charges and interest should not be paid.
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