Disclosing credit trends at a press conference Hyderabad on June19, 2015,
Ms. Harshala Chandorkar, Senior Vice President – Customer Relations, CIBIL
Over 8 lakh new credit card accounts were opened in the first quarter of
last year, 2014 this year 2015 January to March period the number stood at
abaout 10.8 lakh.
Delinquency on credit cards has also come down from 3.27% at end-2010 to
1.06% in Q1 of 2015.
Maximum number of credit card applications came from Mumbai, closely
followed by Delhi & Bangalore.
“This growth is being driven by increased availability of credit
information. Nearly 80% of all retail loans sanctioned by banks are based on
CIBIL scores,” Chandorkar said.
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