Articles for tag: Card, Credit, Delinquencies, Festival, Growth, Loom, ominously, Prospects, Regulatory, Rising, Scrutiny, Season, Spending, Surge

Market News

Credit card spending may surge during the festival season, but rising delinquencies and regulatory scrutiny loom ominously over growth prospects.

Credit card spending may surge during the festival season, but rising delinquencies and regulatory scrutiny loom ominously over growth prospects.

Credit card spending is anticipated to increase during the upcoming festival season, driven by discretionary purchases and promotional offers. However, growth may be tempered due to stricter regulations on unsecured lending and rising delinquencies in credit card payments. In August 2024, credit card transactions rose by 13.51% year-on-year, but there was a slight decline compared ...

Market News

Credit Clash: Odisha’s Political Titans Battle Over Semiconductor Glory While the Public Hitches a Ride on Their Drama!

In Bhubaneswar, a debate has sparked between the ruling Bharatiya Janata Party (BJP) and the opposition Biju Janata Dal (BJD) over who deserves credit for developing the semiconductor industry in Odisha. This discussion began after the groundbreaking of India’s first Silicon Carbide manufacturing facility, led by Chief Minister Mohan Charan Majhi. BJD leader Dibya Shankar ...

Market News

Vedanta’s Credit Rating Soars: A Strategic Leap Towards Financial Strength

Vedanta’s Credit Rating Soars: A Strategic Leap Towards Financial Strength

ICRA has upgraded Vedanta Ltd’s long-term credit rating from AA- to AA, highlighting the company’s improved credit profile. This change comes after Vedanta successfully raised $1 billion through a qualified institutional placement in July and an additional $400 million from selling shares of Hindustan Zinc Ltd in August. The upgrade reflects significant strategic growth initiatives ...

Market News

SMFG India Credit Eyes Rs 60,000 Crore AUM with Branch Expansion

SMFG India Credit Eyes Rs 60,000 Crore AUM with Branch Expansion

Sumitomo Mitsui Financial Group (SMFG) India Credit is on track to increase its assets under management (AUM) to Rs 60,000 crore by the end of the financial year 2024-25, up from Rs 45,000 crore last year. The company has recently expanded its branch network, adding 300 new branches mostly in Tier 2 cities and rural ...

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