Credit card spending peaked again in August at Rs 1.5 trillion. And now that the festivals are just around the corner, companies offering these unsecured loans are expecting another round of good season. But wait. Do people pay back on time? Maybe not all. RBI recently said that the outstanding credit card amount increased by 31% during the fiscal year 2023. So is this a sign of increasing stress, given that inflation has been eating away at people’s savings for some time?
Defaulting on credit card payments affects your credit score and also the chances of getting a loan at attractive rates. Experts therefore advise consumers to use their cards wisely during the holidays. Moving on, the festivals have come a bit early for the Indian women’s cricket team. They won gold at Asian Games. And people can’t stop talking about how crucial vice-captain Smriti Mandhana’s role has been in this historic win. Not only did she add crucial points to the scoreboard in every match, but she also guided the team through two of the most crucial knockout matches in the absence of a suspended Harmanpreet Kaur. Let’s delve into the player’s journey and discover why being a Smriti Mandhana is a phenomenon in itself.
Let’s now turn our attention to the financial markets. India’s sugar stock is at its lowest in five years at 4.5 million tonnes. Moreover, lower production is expected to keep sugar prices higher. Related stocks are also benefiting from these tailwinds, with stellar gains. So should you bet on it ahead of the crushing season?
Meanwhile, analysts are keeping a close eye on the shares of companies in the travel, hospitality and beverage sectors. The Cricket World Cup – which returns to India after about 12 years – could be a windfall for them. In a way, it heralds the festival season. And this time, India will be the sole host. In our explainer segment, we tell you everything about the upcoming mega event – from the prize money, the mascots, the national anthem and the participating teams. Listen to this episode of the podcast for answers.
First print: October 4, 2023 | 3:11 am IST