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Credit Card & Debit Card Transactions Went Up To 53% In December 2011

Credit card transactions were made in December of about Rs. 8,421 crore, up to 53% in the month of December, 2011 as compared to the same month 2010.

VISA Logo

VISA Credit Cards

According to the Reserve Bank of India data, the number of credit card in circulation has declined by 14.4% to 1.76 crore as of December 2011. The credit card transactions during April-December 2011 was Rs. 70, 711 crore up, 54.5 % from the first three quarters of 2010-11. In the mean time, the useage of debit cards got increased in December to Rs. 4,877 crore.

Master Card Logo (MasterCard)

Master Card

There were over 26.37 crore debit cards in use as of December, up 54.6 per cent from the year-ago period.  Transaction through debit card during April-December period was up over two-fold to Rs. 39, 382 crore in comparison to the previous year. On the other hand, debit card usage went up by 46.46% in the last financial year to Rs. 39, 691.88 crore.

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