A credit card is a small plastic card that allows people to buy things without using cash. They can pay for them later. Credit cards are very popular in India today, but they have not been used for long. Let's take a look at the history of credit cards in India

When did credit cards start in India?

Credit cards first came to India in the 1980s. Before that, people used cash or cheques to make payments. The first banks to offer credit cards in India were Central Bank of India, Andhra Bank and Vijaya Bank.

Growth of Credit Cards

Initially, not many people used credit cards due to lack of trust in credit cards. Also, only a few shops accepted them. But in the 1990s, India's economy started growing. More banks like ICICI Bank, HDFC Bank and State Bank of India (SBI) started offering credit cards. Slowly, more people started using them.

Credit Cards Today

Today, credit cards are very commonly used in India. People use them to shop online, book tickets, and pay bills with ease. Many companies like Visa, MasterCard, and RuPay provide credit card services. There are different types of credit cards available from banks, with rewards and discounts.

Credit cards have made life easier for many Indians. They help people to easily buy things and pay for them later. Over time, a majority of people in India will start using credit cards for their daily shopping and payments.