NEWS & ADVICE : CREDIT CARDS
Q1 results show 16% rise in credit card transactions
By Ankit Sharma
Aug 12, 2010
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The first quarter of FY 2010-11 has seen around 16% rise in credit card transactions amounting to Rs 16,947.86 crore.

The transactions recorded for the same period in the fiscal prior to this amounted to Rs. 14,611.66 crore.

There has been a dip, however, in the number of credit cards in circulation by 17% to 1.89 crore as on June 30, as against 2.28 crore in the same period last fiscal.

There has been a rise in the debit card transactions in the same quarter by more than 47% at Rs 8,064.50 crore, as against Rs 5,480.62 crore during the year-ago period.

The number of debit cards in circulation in the country has gone up to 19.19 crore as on June 30 as compared to 14.64 crore for the same period last fiscal.


 


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