New Delhi, Oct. 21 -- The Diwali festive season fills the air with joy and excitement, but for millions of Indian consumers, it also means loosening their purse strings.

This trend is clearly reflected in the data published by the Reserve Bank of India (RBI) during the peak Diwali festive season of October 2024; credit card transactions alone surged over 14% in a month to Rs.2.02 lakh crore, driven by 43.3 crore transactions in that month. The numbers clearly show how credit cards shift from everyday payment tools to spending machines during the festive season.

The core problem isn't the items we buy, but how we mentally process the purchase. From a small gift hamper to a major appliance, accessories, and gadgets, many festive purchases...