Thursday 25 June 2009

The Next Big Crisis - Credit Card Defaults

The Next Big Crisis - Credit Card Defaults

Take a look at this link:

What's disconcerting is not merely the contents of the article which talks about "an estimated NPA of 10.62% of all credit card dues", but the fact that the figures are bandied about as being almost routine and normal.

In contrast, the corresponding figure in India is likely to be a very low single digit figure. And, most Indians don't have a credit card in the first place.

Watch out for the next crisis!

Regards,

N


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