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An October 2024 Credit Access Survey by the Federal Reserve Bank of New York revealed that the rate of credit card applications increased by 28.6% in 2024, with a rejection rate of 22.2%.
Investor Prosus NV said on Monday a $4.7 billion deal to buy BillDesk, which would have been one of the largest in India's financial technology sector, was "terminated", saying conditions of the ...
The biggest acquisition deal in India’s digital payments sector has been called off, apparently over its $4.7 billion valuation. Why Prosus terminated a $4.7 billion fintech takeover deal in ...
BillDesk was founded by Indian entrepreneurs M.N. Srinivasu, Ajay Kaushal and Karthik Ganapathy in 2000. [7] The three previously worked at American accounting firm Arthur Andersen LLP. [ 8 ]
Out of this 75%, 98% come from the RTGS (large-value payments) whereas a meager 2% come from retail payments. This means consumers have not yet accepted this as a regular means of paying their bills and still prefer conventional methods. Retail payments if made via electronic modes are done by ECS (debit and credit), EFT and card payments. [2]
The $130 billion year-over-year increase in credit card debt, also the highest annual gain on record per the New York Fed, came as interest rates on credit cards also hit new highs.
Probability of default (PD) is a financial term describing the likelihood of a default over a particular time horizon. It provides an estimate of the likelihood that a borrower will be unable to meet its debt obligations. [1] [2] PD is used in a variety of credit analyses and risk management frameworks.
Consumer spending fuels economic growth, so trouble paying credit card bills is a worrisome signal. The direction of the labor market could determine whether debt stress becomes a bigger concern.