Lockdown forces shift from credit to debit cards

According to data released by the Reserve Bank of India (RBI), spending under credit cards in June 2020 was Rs 42,818 crore, which was 36% lower than Rs 67,000 crore in January 2020. On the other hand, debit card spends stood at Rs 47,252 crore, which was only 24% lower than Rs 62,153 pre-Covid.

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Sep 14, 2020 - 09:17
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Lockdown forces shift from credit to debit cards
According to data released by the Reserve Bank of India (RBI), spending under credit cards in June 2020 was Rs 42,818 crore, which was 36% lower than Rs 67,000 crore in January 2020. On the other hand, debit card spends stood at Rs 47,252 crore, which was only 24% lower than Rs 62,153 pre-Covid.