Credit card spending rises more than 47% in December, data shows

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Continuing the growth momentum seen since the start of the festive season, credit card spending in December jumped 47.54% on an annual basis (YoY) to reach Rs 94,202.44 crore (value of transactions to outlets and ATMs), latest data from the Reserve Bank of India showed.

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Even on a monthly basis, expenses were up 5% despite a high base. In the corresponding period last year, the expenditure totaled Rs 63,847.26 crore.

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