Abstract : According to new research published by India's national bank, the Reserve Bank of India, the use of credit cards in India is no longer considered to be in its infant stages. Although they remain out of reach for a sizable portion of the population due to the requirement of a credit score, credit cards are already more valued than debit cards. There is only one credit card out there for every twelve debit cards, yet the number of something does not always indicate its value. Most of the requirements for a completely competitive market are mostly met by the credit card industry. The lack of consideration by consumers for the extremely high likelihood that they will pay interest on their outstanding accounts appears to be a contributing factor in the competitive model's failure.
Keywords : LACK , MARKET, CREDIT CARDS, vendors.
Cite :
References :
Lawrence M. Ausubel, University of Maryland” The Failure of Competition in the Credit Card Market” The American Economic Review, Volume 81, Number 1 (March 1991), 50–81.
