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More people applied for credit cards due to demonetisation

More people applied for credit cards due to demonetisation

Following demonetisation in November 2016, credit card account numbers have increased by nearly 50% with average credit card balance increasing by 12 per cent to Rs 35,495, according to a CIBIL study. The number will further increase due to rise in users of digital transaction channels. An 83% increase in a number of active consumer durable loans amounting to 1.95 crores since last year was also observed.

read more at FINANCIAL EXPRESS

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