Credit card default

113°
Deal Lieutenant
jioanupt


What's your take on this?? 

https://m.economictimes.com/industry/banking/fi...

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Benevolent Benevolent
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Bro Abhishek bro only rupay title mye add karnye par spawn hoga joy joy

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Benevolent Benevolent
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It think its effect will made card hard to get ,their many people who use cc as free money now day don't see  it as a quick loan which you have to repay,that why nowdays emi transaction are at booming to fast people thinking they just have to pay small amount for few months and buying 1.5l phones on their 15k salary ,seen many daily labours owning iphone now days too joy joy ,they be like I will buy next iphone instead of improving my current wages or learn something or open a shop with this money

Deal Lieutenant Deal Lieutenant
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Boom cycle always attracts all such crowd  in any market and once the bubble is burst there are always loser's but by and large it deepens and grows the market in long run 

But its sad to see few people make such huge mistake that may be a life changing experience or threatening in case of few.... But that's a cost to pay nonetheless the lessons learnt are valuable

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Deal Cadet Deal Cadet
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lehman brothers coming soon to india

Deal Lieutenant Deal Lieutenant
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Probably that's, a over stretch wherein overall retail lending for banking is very small ans and while corporate - institutional credit cycle has already gone through downtrend..... It's actually opposite of Lehman it's extremely difficult to get credit in regulated banking industry and cost of capital is exorbitant to do justice to meaningful  economic growth trajectory

Only 40 crore or something like that has a credit from banks ever oit if atleast 90 crore labour market and even out of those only 1 \ 3 are active in last 3yrs and thier eligible credit worthiness is too low 

Out of 90 crore labour force only barely 5 crore have a credit card of which couple of crores are as recent as 3yrs new users.... Although 10 crore credit cards are active but actual users is barely 5crore 

Over regulated banking has led to large exploitation led unorganized credit market... While banks a very thin slice of market...... It's a long shot from lehman like case at large 

Deal Lieutenant Deal Lieutenant
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Well this will trouble new issuance of cards at the very closer term, but near Dec 2024 the bank employees would have targets to meet up for quarter and hence that time the credit card issuance will pickup 

but for now ya this is concerning that many millennials are delinquencies to an extent


lets see how this trend falls out

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