VERIFIEDET Finance·3 Sept 2026negative

'Revolver' misfire hits credit card issuers: India's credit card boom sees lower bank profits

AI Summary

·Indian banks are experiencing shrinking profits from credit cards despite rising spending.
·Customers are increasingly using credit cards for payments rather than borrowing, leading to reduced interest income.
·Interest-bearing balances as a percentage of total card spending have significantly decreased, impacting major lenders.