The Government of India’s push for digital transactions which started from 2016 using JAM trinity (JanDhan, Aadhar and Mobile) is helping in changing the consumer preference structurally. This structural shift in the consumer preference will also help the credit card industry going forward.
Credit Card outstanding in India is just ~6% of debit card spends and this has not improved meaningfully in recent times. If we look at the composition of digital transaction over