Indian Credit Card Spends Hit 6% Low While Overall Bank Lending Races at 14%

While overall non-food bank credit continues to grow at a brisk 14.4%, credit card spending has slowed to a modest 6% year-on-year. This retail fatigue in the card segment, marked by a 3% drop in average spend per card, stands in contrast to double-digit growth in secured loans like housing and vehicle finance.