The Indian Financial Scape survey, conducted by Delhi-based economic research firm Indicus Analytics, tracks patterns of financial asset ownership in urban India. In the sixth edition, we examine credit card ownership. The data is broken down by income group and regional differences. At least 35,000 households in urban India were surveyed between April and June 2012. After nine weeks, the survey will reveal what drives financial asset ownership in urban India. Data on credit cards show that as household incomes in urban areas rise, so does credit card ownership. In the lowest income category of up to ₹ 75,000, the average card ownership is less than 1%. It rises to just under 5% in the next income bracket from income to ₹ 5 lakh. In the higher income categories of ₹ 20 lakh and above, the average ownership is about 62%. Looking at card ownership by zone, the Western region again leads its peers in credit card ownership, as in other financial products, with an average ownership of nearly 30% compared to just over 26% in the East, North and South.
1. Across India, 27.65% of urban households have credit cards.
2. In the lowest income group of under ₹ At around 75,000, the average home ownership rate is below 0.63%.
