According to data released by the RBI, Credit Card growth slowed down in FY 2007-08 mainly due to defaults by consumers. Here are some latest facts,
- India now has 26 Million Credit Card users – 1/10th the size of Mobile Phone
PNB Credit Card by October
India’s second largest PSU bank, Punjab National bank which was seeking permission from the RBI to launch credit cards in India in association with AIG – American International Group has decided to go solo because of lack of clarity and clear
Ascent American Express Credit Card
ICICI Bank and American Express together just a while ago launched ICICI Bank Ascent American Express Credit Card and another one with 90% same features except that it
High Court Rules Against Citi Credit Card
In a landmark judgment which comes as a relief to the consumer, the High Court of Delhi has ruled against sub-prime loser Citibank’s Indian Credit
Future Credit looking beyond Group Companies
Kishore Biyani promoted, Future Capital Holdings Ltd which went public at an astounding premium has set its eyes on Telecom, Airlines and other Utility companies to tap in more customers. It is well known to our readers that Future
Credit Card Fraud up 28% in India
Last August we reported about the credit card frauds in Indian Public and Private sector banks. We are in receipt of data, which suggests that Credit Card Fraud was up by 28% in India YoY according to the latest figures revealed in the parliament.