The Indian government has reversed its previous decision of levying a tax on credit card spends outside India. It announced on Wednesday (June 29) that it will defer the inclusion of international credit card spends outside India under the Liberalised Remittance Scheme (LRS).

Good news for India's credit card spenders abroad on Tax Collected at Source (TCS)

A recent study published in the journal Physics of Fluids found that humans might be inhaling as much as 16.2 bits of microplastics every hour which amounts to a credit card’s worth of the potentially toxic substance clogging the human respiratory system, in a week.

‘Credit card-equivalent’: Study finds how much plastic humans inhale every week. But where does it go?

The uproar over TCS or tax collected at source for international credit or debit card transactions has finally subsided after the Indian finance ministry clarified that there will not be any TCS on spending up to Rs 7 lakh ($8,470).

Need more clarity on taxing international spending of over Rs 7 lakh: Bankbazaar CEO

Indians using credit cards for international transactions should be ready for paying more taxes. A notification issued by India’s Ministry of Finance has now brought international credit card transactions under the Reserve Bank of India’s liberalised remittance scheme (LRS).

New credit card rule in India: International transactions to attract 20 per cent tax, govt faces pushback 

While lawmakers continue to hold marathon meetings to reach a deal on hiking the debt limit, another debt crisis is looming in the United States. A New York Federal Reserve report shows that the credit card debt of Americans stood at a whopping $986 billion — just a few billions short of the $1 trillion mark — as of March 31, 2023.

Nearly $1 trillion & counting: US households are drowning in credit card debt

Gen-Z is slaying with the use of credit cards as they grow up and enter the workforce in times of high inflation and higher-than-ever affinity towards buying luxury goods and living a lush life.

Gen-Z is slaying with credit card use but why they still need a financial vibe check

China unveiled tighter rules late on Thursday to better regulate its $1.3 trillion credit card industry, urging lenders to adopt a prudent growth strategy, and monitor risks more closely.

China tightens rules on $1.3 trillion credit card business

Australia's market regulator has commenced civil penalty proceedings against Australia and New Zealand Banking Group for allegedly misleading its customers over their credit card accounts.

Australian regulator sues ANZ over alleged overstatement of Credit Card balances

The Reserve Bank of India (RBI) barred Mastercard from acquiring new customers starting July 22. The payments operator has been barred from adding domestic customers across three categories of cards – debit, credit as well as prepaid.

World Business Watch: RBI bars Mastercard from adding new clients in India from July 22

In an unprecedented move, the Reserve Bank has temporarily barred HDFC Bank from launching digital banking initiatives and issuing new credit cards after taking a serious view of service outages at the country's largest private sector lender over the last two years.

RBI temporarily bars HDFC Bank from issuing new credit cards, launching digital initiatives

Consumer borrowing behaviour of Indian youngsters

Most Cubans do not have credit, debit card. To know more watch the video

Crypto in Cuba is Unregulated

Apple launches credit card and 'Arcade' gaming service

Gurib-Fakim, Africa's only female head of state, submitted her resignation in the "national interest," her lawyer Yousouf Mohamed told reporters.

Mauritius president resigns over credit card scandal

In 2015 worldwide losses from credit and debit card fraud was US$21 billion.

How do you protect yourself from credit card fraud?

The slide in numbers suggests the enormity of the task at hand before the country is transformed into a cashless economy

Demonetisation: Slump in use of cards despite cash scrap

Paytm is currently doing more transactions than the combined average daily usage of Credit and Debit Cards in India.

Paytm registers 7 million transactions worth Rs 120 crore in a day

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