Debit card transactions have for the first time this year taken lead over their competitive peer, credit cards, says report released by regulator Reserve Bank of India.

Such results have been seen for the first time this year in the month of July. The difference with which debit cards have taken over credit cards is a staggering figure of more than a million.

Banks have affirmed the facts and commented that increasing numbers of debit cards being issued has a pivotal role to play in the results. Also the level of risklessness and comfort associated with debit cards has played its part in increasing customer preference towards itself.

"Both banks and customers are more comfortable with debit cards as compared to credit cards," said Sohini Rajola, vice president and head of cards at Axis Bank.

"A combination of security features and incentives have created a comfort zone for debit card users," said Navtej Singh, head of direct payment products division of HDFC Bank.