India, March 23 -- RBI shares a promising picture for the credit card industry in India. As of April 2023, there were over 86 million credit card users in the country, reflecting a significant 15% increase from the previous year. This surge in credit card adoption indicates a growing acceptance and utilization of credit cards among Indian consumers.With this trajectory, the credit card market size could reach 100 million users in 2024.

Several factors contribute to this notable growth in credit card usage.

The simplification has made it more convenient for individuals to apply for and obtain credit cards, expanding the user base. Additionally, relaxed regulations and policies from the government have played a significant role in fosteri...