One interest rate segment stubbornly defies all RBI inducements

Rajrishi Singhal • June 15, 2022 / 10:51 IST

The weighted average lending rate charged by the banking industry as issuers of credit cards, as calculated by RBI, is currently 30.51% on an annualised basis when you roll over your credit card dues to the next month. It is currently the highest rate charged in the formal economy.

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