Credit card transactions in India have seen a 28.4% rise in the month of July for this fiscal as compared to the figures acquired for the same period in a fiscal prior to this.

The month saw transactions worth Rs 7471.76 crore being carried out using credit cards.

However there has been a dip in the number of cards in circulation by more than 6.7% to as much as 1.76 crore as of July 31, 2011.

Debit card transactions, on the other hand, have seen a 45.8% hike amounting to Rs 4,232.57 crore in July 2011.

The number of debit cards in circulation was more than 24.33 crore in July, a 24.3% hike over previous figures.