This should be seen in conjunction with the new credit card norms which state
-
Newly acquired user should activate their credit card within 30 days of card issuance with a OTP consent.
-
Cards unused for > 1 year period should be autoclosed after informing the customer.
And a bunch of other, details below:
https://m.rbi.org.in//Scripts/BS_ViewMasDirections.aspx?id=12300
Implementation deadline for above is extended to 1st October.
Some prudent banks might have already gone live with those rules and might have absorbed the impact.
October ending disclosures should give a better picture on #Cards market share for banks & True Average spend per card numbers.
For now, it makes sense to track growth based on spends market share.
Subscribe To Our Free Newsletter |