Tag: Credit card

Number Of Credit Cards More Than Doubled In 5 Years: RBI

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Number Of Credit Cards More Than Doubled In 5 Years: RBI

New Delhi: The number of credit cards has more than doubled to around 10.80 crore at the end of December 2024, compared to December 2019 when there were 5.53 crore cards in circulation, according to a new RBI report. In contrast, number of debit cards have remained relatively stable, with a marginal increase from 80.53…

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Banks Can Charge Over 30% Interest On Credit Card Dues: Supreme Court

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Banks Can Charge Over 30% Interest On Credit Card Dues: Supreme Court

New Delhi: Banks can charge over 30 per cent on credit card dues from customers after the Supreme Court set aside a sixteen-year-old National Consumer Disputes Redressal Commission verdict, which held charging excessive interest rates amounted to an unfair trade practice. A bench of Justices Bela M Trivedi and Satish Chandra Sharma said NCDRC’s observations…

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