'Revolver' misfire hits credit card issuers: India's credit card boom sees lower bank profits
Credit card profits are shrinking for Indian banks as spending rises.
Customers now use cards more for payments than borrowing, reducing interest income.
Interest-bearing balances have significantly fallen as a percentage of total card spending.
This trend is impacting major lenders like HDFC Bank and SBI Cards.
Analysts predict further profit margin declines in the coming years.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on economictimes.indiatimes.com — the content belongs to The Economic Times.
