RBI Working Group suggests safeguards for credit cards

摘要

The credit card usage in India has caught on and the market for credit/debit cards is booming. The industry has seen a spectacular growth over the past few years in terms of number of cards issued and card spend. The rise is more than 40% a year and is expected to go up. In its 15 years of doing business in this country, the industry had issued 26.9 million cards till December 2003. And now in just one year, 2004, that figure skyrocketed to 43.3 million.