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India’s Credit Card Spending Surges 24% to Rs 2.19 Trillion in March

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New Delhi, April 28 (IANS) India’s credit card spending surged by 24 per cent in March, month-on-month, to Rs 2,194 billion, supported by seasonal factors and a low base, even as underlying trends indicated a normalisation in consumption growth, according to a report released on Tuesday.According to an analysis by Asit C. Mehta Investment Intermediates, on a year-on-year basis, growth was more moderate at 8.9 per cent.The report noted that the sharp monthly uptick does not indicate a structura…