Double delight for credit card biz; Spends, fresh issues hit a record

September saw record spending on credit cards and a surge in new card additions. Festivals and tax cuts fueled domestic consumption. Total monthly card spends exceeded ₹2.16 lakh crore, a significant year-on-year increase. E-commerce spending was particularly strong. This trend is expected to continue into October with ongoing festive promotions and discounts.

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