More people applied for credit cards due to demonetisation
Shortpedia
Content Team
Following demonetisation in November 2016, credit card account numbers have increased by nearly 50% with average credit card balance increasing by 12 per cent to Rs 35,495, according to a CIBIL study. The number will further increase due to rise in users of digital transaction channels. An 83% increase in a number of active consumer durable loans amounting to 1.95 crores since last year was also observed.
