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Americans notched the biggest annual increase in credit card debt on record last quarter
US credit card debt climbed $154 billion year-over-year last quarter, the largest such increase sin…
Phil Rosen
RBI allows banks to issue RuPay prepaid forex cards
By promoting electronic payments, RuPay aligns with the Reserve Bank of India's goal of fostering a…
Carrying a credit card balance is costing you $1,140 per year — and is about to get much worse
Americans spent $164 billion on credit card interest and fees in 2022. With balances and interest r…
Cork Gaines
America's $1 trillion credit card bill really isn't as bad as it seems
US consumers have accumulated $1 trillion of credit card debt. That sounds like a lot, but it's not…
Jennifer Sor
Consumer credit card debt tops $1 trillion for the first time ever
The $1 trillion milestone in credit card debt comes at a tricky time for consumers amid a period of…
Matthew Fox
Yes Bank has more shareholders than debit cards as retail investors continue to buy in
Yes Bank has more shareholders than active debit cards, according to the latest data reported by th…
Consumption loans take a breather in July-September 2023 period, even as delinquencies rise
India’s retail loan growth moderated in the second quarter of FY24, especially in consumption-led s…
Struggling US households may soon max out their credit cards as banks get skittish
"Credit card borrowing costs are the highest since records began in 1972 so there is going to be a …
Matthew Fox
E-commerce sales likely to drive credit card spends in September even as active cards decline
Rising inflation has dampened overall credit card spends in August, but experts say they will bounc…
A veteran economist just echoed Elon Musk and Michael Burry's warning that Americans are drowning in credit-card debt - and he says the economy will pay the price
Elon Musk and Michael Burry have both raised the alarm on US households' spiraling debts. Carl Wein…
Theron Mohamed
The surge in credit card delinquencies might be a 'harbinger' of a coming recession, Wells Fargo says
"Our outlook remains for a short, moderate recession and then recovery for most of 2024 and likely …
Jennifer Sor
Indians’ love for travel is so strong that it’s boosting credit card spends
Holiday and wedding season, a decline in Covid cases and an appetite for revenge tourism has result…
FM Nirmala Sitharaman likely to meet PSU banks heads on Saturday
Finance minister Niramala Sitharaman is scheduled to meet managing directors of public sector banks…
PTI
Size does matter: Debit cards for large payments & UPI for smaller ones
Indians have gotten habituated to fishing out their phones instead of cards, and that’s been fuelli…
Axis Bank completes acquisition of Citibank’s consumer business for ₹11,603 crore – here’s everything to know
India’s third-largest private lender Axis Bank on Wednesday said it has completed the acquisition o…
Strong Q4 on the cards, but concerns emerge on fall in CASA deposits and credit offtake slowdown
Indian banks are expected to continue their strong performance in Q4 led by a momentum in credit gr…
Merch, vinyl, hotels and credit cards: Taylor Swift's Eras Tour helped a bunch of companies – but hurt others
Taylor Swift's concerts were a boon for Target, Universal Music, and at least two hotel owners, but…
Theron Mohamed
CBDC trial a landmark moment in the history of money: Shaktikanta Das
Reserve Bank of India governor Shaktikanta Das today announced that retail central bank digital cur…
Credit card spends hit a record high and most of it is online and not at stores
Credit card spends have climbed fast and hit a record high in May at ₹1.14 lakh crore, doubling fro…
This year, credit card users swiped 5x more than debit card users: PayU
This festive season, Indians have been spending via swiping as per a PayU Insights Report - Festive…