Tuesday, 17 January 2017

SBI Card says note-ban pushes up spends by 30%

SBI Card said post-note ban, the total spends on its cards have increased by 25-30 per cent, despite fall in certain segments like fuel, jewellery and other discretionary spending. Total spending on our cards increased post- demonetisation by 25-30 per cent. But in some categories like fuel, jewellery and discretionary spending came down," SBI Card chief executive Vijay Jasuja told. SBI chairman Arundhati Bhattacharya chipped in saying pre-demonetisation SBI Cards were getting 65 per cent of transactions on cards and after demonetisation it has been 85 per cent.

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