India Charge-Offs Said To Be Higher Than U.S. And Australia

Published May 04, 2009, 1:00 a.m. EDT

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Updated May 04, 2009, 12:00 a.m. EDT

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The average charge-off for all India credit cards in 2008 was 3,420 rupees (US$684), according to a report by the Indian Cards Council and payments services consultancy Edgar, Dunn and Co. The Indian Card Council is an association of all MasterCard Worldwide-issuing banks in the country. India's average charge-off amount was higher than in the United States (3,070 rupees) and Australia (1,200 rupees). India has about 25 million credit cardholders, according to data from the Reserve Bank of India.

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