Mumbai, April 25 -- Credit card spending increased by 27% year-on-year to Rs 18.26 trillion in the financial year 2023-24 (FY24), up from around Rs 14 trillion in the previous year, according to the latest data from RBI.

In March 2024, credit card spending saw a growth of nearly 10.07% to Rs 1.64 trillion compared to Rs 1.49 trillion in February.

This increase was on account of the end of the financial year and festival sales during March.

Out of the total credit card transactions amounting to Rs 1.64 trillion, point of sale (PoS) transactions in the country increased to Rs 60,378 crore in March, up from Rs 54,431.48 crore in February. Additionally, e-commerce payments rose slightly to Rs 1.05 trillion from Rs 95,000 crore.

Among the ...