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

September 27, 2024

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 ...

September 9, 2024

Market News

Politics

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 ...

September 4, 2024

Market News

Business

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 ...

September 3, 2024

Market News

Business

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 ...

May 16, 2024

Market News

Business

More people struggling to pay credit card bills as prices go up and interest rates climb

Credit card delinquencies are on the rise, with inflation and higher interest rates being pointed to as the culprits. As prices continue to climb and borrowing costs increase, more and more people are struggling to keep up with their credit card payments. Stay informed on the latest developments in personal finance to better navigate this ...

May 14, 2024

Market News

Business

Rising Number of Americans Struggling to Pay Credit Card Bills – Learn Why!

According to NPR, a growing number of Americans are struggling to keep up with their credit card payments. As the economy continues to face challenges, more people are falling behind on their bills, leading to increased financial stress. This trend highlights the ongoing financial insecurity facing many households across the country. Click to Claim Latest ...

May 11, 2024

Market News

Business

Judge stops plan to slash credit card late fees to $8 – find out why!

A recent ruling from a judge has put a halt on plans to limit credit card late fees to $8, affecting millions of consumers. The decision, announced by NPR, has sparked controversy among financial institutions and cardholders alike. Stay tuned for updates on this developing story. Click to Claim Latest Airdrop for FREE Claim in ...