Mumbai: Growing defaults are forcing banks to shrink their credit card portfolios aggressively. In the first five months of fiscal 2009, the credit card base in India has fallen by 1.5 million to 26.73 million, according to the Reserve Bank of India, or RBI.
Bankers said the trend has intensified in recent months and the [...]
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Banks cut down on credit card business over rising defaults
Posted in Bank, credit card, finance, personel credit on November 7, 2008 | 1 Comment »
