Financial Daily from THE HINDU group of publications
Wednesday, Dec 10, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 10, 2003 |
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Money & Banking
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Financial Services Visa posts big growth in India Our Bureau
Mumbai , Dec. 9 VISA has recorded a substantial growth in the issue of number of cards, card sales volume and retail sales volume in India. According to a Visa India press release, in the third quarter ended September, the total number of Visa cards touched the 14.77-million mark, registering a 121.6 per cent increase. Further, during this period, the retail sales volume (spending at the point of sale using Visa cards) grew by 48 per cent over the same period last year to reach $450 million. In fact, India has recorded one of the highest RSV sales in this region. Card sales volume (which measures RSV plus cash advances and withdrawals at ATMs) grew by 160.8 per cent to touch $2.45 billion.
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