Credit Card Outstanding Reaches All-Time High In January

As per the latest data of the Reserve Bank, the credit card outstanding has recorded a growth of over 20 per cent in the 10 months of the current fiscal.

The credit card outstanding in January rose 29.6 per cent to reach an all-time high of Rs 1.87 lakh crore on back of increased digitisation and rising consumer confidence in the post-Covid period.

As per the latest data of the Reserve Bank, the credit card outstanding has recorded a growth of over 20 per cent in the 10 months of the current fiscal.

June had recorded the highest growth of 30.7 per cent.

"Many categories have been digitised which has resulted in increased spends from existing customers using their credit cards," said Rama Mohan Rao Amara, MD & CEO, SBI Card.