Question

    According to the latest data released by the Reserve

    Bank of India, Indians spent a record Rs 1.44 trillion in July via credit cards, breaking the previous record of Rs 1.4 trillion in May.Which bank remained at the top spot with 18.54 million cards?
    A HDFC Bank Correct Answer Incorrect Answer
    B SBI Card Correct Answer Incorrect Answer
    C Axis Bank Correct Answer Incorrect Answer
    D ICICI Bank Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to latest data released by the Reserve Bank of India, Indians spent a record Rs 1.44 trillion in July via credit cards, breaking the previous record of Rs 1.4 trillion in May.  The banking industry added about 1.19 million credit cards in July, taking the outstanding credit card base to 89.87 million compared to 88.68 million in the previous month.   HDFC Bank remained at the top spot with 18.54 million cards, followed by SBI Card at 17.55 million, ICICI Bank at 14.98 million, and Axis Bank at 12.74 million.  The data showed that e-commerce payments cornered 65.71 per cent of the total credit card spend in July, with PoS (point-of-sale) transactions accounting for 34.28 per cent.

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