New Delhi, April 5 -- Credit card spending hit a 7-month low amid persistent decline, according to a report by ACMIIL, a stock market firm.

According to the report, total credit card spending stood at Rs 1,672 billion in February, compared to Rs 1,841 billion in January. This marks a 9 percent decline on a month-on-month (MoM) basis.

The report said, "Monthly Impact Coupled with Industry Slowdown Led to Spending Low of 7 Months".

Despite the monthly dip, credit card spending still showed a 12 percent increase compared to February 2024. However, this is much lower than the average year-on-year (YoY) growth of around 30 percent seen until January 2024, suggesting a slowdown in consumer activity.

Transaction volumes also showed a mixed t...