Credit card spending rose 3% year-on-year to Rs 1.54 lakh crore in March, even as month-on-month activity jumped 20%, according to the Reserve Bank of India data. The West Asia crisis has added a layer of uncertainty, contributing to cautious consumer behaviour, said analysts. Despite a tepid growth in value, volumes rose 7%. In March, e-commerce reported a 1% rise in total spends in value terms and a 14% jump in volumes, while point-of-sale spends rose 6% in value terms, but a 2% fall in volumes. Sanjay Agarwal, senior director at CareEdge Ratings, said: “Compared to February, spends in March rose simply because the calendar turned favourable.