Although the rate at which the number of credit cards issued might slow down, the average expenditure per card user will continue to rise, given the spending profile of the youth and earning growth. Also, the linking of Rupay Credit Card in UPI shall give a boost.
Regarding unsecured loans, one can not deny the possibility of default; however, tightening KYC norms and bank due diligence before issuing credit cards are also increasing. I think this company shall do better than banks in longer terms.
Disc. biased view, top 5 holding.
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