Comments
Transactions worth Rs 7,191.11 crore were carried out using credit cards in the country in June 2011, translating into a growth of 29.8 per cent over the same month last year.
Credit card transactions during June 2010 amounted to Rs 5,538.75 crore, according to Reserve Bank of India (RBI) data.
The number of credit cards in circulation has, however, declined by over 6.7 per cent to 1.76 crore as onJune 30, 2011, from 1.89 crore at the end of the same period last year.
As per the data, credit card transactions during the first quarter this fiscal stood at Rs 22,127.50 crore against Rs 16,947.87 crore in the first three months of 2010-11, a jump of 30.5 per cent.
Meanwhile, debit card transactions were up 45.6 per cent in June to Rs 3,783.88 crore from Rs 2,597.49 crore in the corresponding month last year.
There were over 23.95 crore debit cards in use as on June 30, 2011, up 24.8 per cent over about 19.19 crore in the year-ago period.
Transactions by debit cards during April-May period were up 44.9 per cent to Rs 11,690.79 crore from Rs 8,064.51 crore.
The latest jump in transactions through credit and debit cards signals the continuation of the growth observed in the last fiscal, according to experts.
In 2010-11, transactions through credit cards in the country went up 22.15 per cent to touch Rs 75,515.68 crore in value terms. In addition, debit card transactions went up 46.46 per cent to Rs 38,691.88 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.