NEWS & ADVICE : CREDIT CARDS
Debit card payments rise by 40 percent
By Ankit Sharma
Dec 17, 2009
Print    Email    RSS   

Debit card payments increased by 40 percent to Rs. 14,598 crore during the April-October period as against the corresponding period last year, reflecting a surge in economic activities.

During the same period in 2008-09, the payments made through debit cards stood at Rs. 10,489 crore.

Analysts say that the increase in debit card payments is in line with expectations as the financial condition of the country has improved in the last few months.

According to latest RBI bulletin, the payments made through debit cards stood at Rs 2,572 crore in October, highest in the current fiscal.

The payments were Rs. 1,960 crore in the comparable period last year.

On the other hand, credit card payments declined by over 12 percent in the first seven months of the current fiscal to Rs. 34,993 crore as shoppers decided not to use their cards amidst ongoing economic slowdown. Credit card defaults rose to 17 percent in the last fiscal.

Lenders also became more careful in terms of their credit cards. Recently, ICICI announced that it would block all its cards in case a customer defaulted on one.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Cobranded debit cards: How good are they?
Petro Cards 101: A detailed guide
Handle your credit card with care
Some Facts About Zero Interest Credit...
How to Manage Multiple Credit Cards?


how can i can transfer money from sbi to citibank.i...
i have lost my id and password still i want to view...
30837017920
my a/c is thr wth sbi. i hv my debit card bt hv not...
@~09780560514~@ Call GiRls In ludhiana EsCoRt In...
Which indian bank support AVS (address verification...

NEWS THIS WEEK
New multicurrency card of KVB bank Oct 20, 2014
Federal Bank bagged excellence banking award Oct 17, 2014
Customers with large account balance will get unlimited free ATM transcations: SBI Oct 15, 2014
Hud Hud Cyclone crippled the Banking service in Vishakhapatnam Oct 14, 2014
Number of free transactions at non home ATM branches Oct 13, 2014
News Archive