On a year-on-year basis, data with the FSR showed that the NPA for credit cards has increased from 9 percent in March 2022 to 18 percent in March 2023
The non-performing asset (NPA) in credit card segments for public sector banks stood at 18 percent as on March 2023 compared with 9 percent a year ago, according to data from the Reserve Bank of India (RBI) Financial Stability Report."While there has been an overall improvement in asset quality in respect of personal loans, impairments in the credit card receivables segment have risen marginally," the FSR report said.
Expect more devaluation in PSU Bank Cards on the likes of PNB,Union Bank and others. Also with thes banks having less cards issued on visa and mc network and more on rupay network,they must have lost lakhs of rupees in mdr
SBI Card and BOB Financial are privately owned NBFC's so the devaluation in those cards is less likely.
