'SBI Cards & Payment Services conducted a conference call on 29 January 2025 to discuss its financial results for the quarter ended December 2024. Abhijit Chakravorty, MD&CEO addressed the call:
Highlights:
The projections indicate that digital economy will account
for 20% of GDP by FY2026 and exceed USD 1 trillion by 2028. UPI transactions
saw an 8% month-on-month increase in volume to Rs 1.67 lakh crore in December
2024, the highest volume for the digital system since it became operational in
April 2016
Credit card spends have grown to Rs 1.88 lakh crore in value
terms with transaction values exceeding Rs 1.14 lakh crore on e-commerce
platforms. This trend further highlights the increasing preference on credit
for online purchases.
The company remains committed to focusing on Indian credit
card industry''s growth potential and increasing digital payment adoption as
India''s largest Pure Play credit card player with a 18.7% m...
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