Tag: interest rate hikes

Credit card perks that included attractive reward points, instant cashbacks, and various benefits such as access to airport business lounges and exotic vacations at low cost have been scaled back by banks during this festive season. As banks strive to gather deposits after recent interest rate hikes, they are becoming less generous with these offers. Data collected by ET revealed that banks have increased spending thresholds and caps, indicating a focus on profitability in the loan segment, which has been growing alongside increasing affluence in urban India.For example,...