Pickup In Consumer Spending | SBI Card To ET NOW
Video description:
Customer queries for new cards are now back to 70-80% of pre-COVID levels. Spends as well have reached 70% of pre-COVID levels, some days it is even higher than that. The transfer of money from cards to e-wallet limits the threat of UPI works side by side with card. Demographic studies show that age 50+ was not active before COVID, even this group is now using the card. The case for low defaults: Gen Y & Gen Z have 30-40 years of work-life, want to protect credit history. Moreover, Gen Z & Gen Y will want to borrow later in life, hence they will not default now. We will do what best we can in terms of support while keeping a check on over-leveraging. The moratorium has continued to decline in June as well. The moratorium also looks less appealing due to higher interest cost associated. Credit card companies will bounce back quicker than other financials while maintaining prudence, says Hardayal Prasad, SBI Card. Watch! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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