Credit Card Spending Normalizes in October

In October, people in India spent less on their credit cards compared to the previous month, but more than the same time last year.

This is because the big festival shopping season was over.

Banks are still giving out more credit cards, but they're being more careful about who they give them to.

Big private banks are giving out fewer cards but focusing on more expensive, premium ones.

Public banks are doing better and getting more people to use their cards, especially in smaller cities.

Overall, people are spending a little less per card, but the total amount of money owed on credit cards is still going up.