December 01, 2020 03:00 am | Updated 03:00 am IST - Mumbai
Banks’ requests for information on credit card borrowers or ‘credit card inquiries’ in October surpassed the year-earlier level, a credit information company said on Monday.
This suggests consumer economic activity has materially improved since the easing of COVID-19 lockdown measures, Transunion Cibil said.
Festival purchases, coupled with pent-up demand, had resulted in improvement in many economic indicators in October. However, many observers are skeptical of demand enduring.
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