Credit card transactions up 28.9% in April

Credit card transactions during April, 2010 were at Rs 5,473.58 crore, according to Reserve Bank of India (RBI)  data.

The number of credit cards in circulation have, however, declined by over 7.8 per cent to almost 1.78 crore as on April 30, 2011, from 1.93 crore in the same period last year. Meanwhile, debit card transactions in April were up by 47.7 per cent to Rs 3,705.54 crore, as against Rs 2,508.32 crore in the corresponding month last year.

Deb it cards

There were over 23.02 crore debit cards in use in the country as on April 30, 2011, up 24.6 per cent over the figure of almost 18.48 crore in the year-ago period. The latest jump in transaction through credit and debit card signals a continuation of the growth observed in the last fiscal, according to experts.

In 2010-11, transactions through the credit cards in the country went up by 22.15 per cent to touch Rs 75,515.68 crore in value terms.

Besides, debit card transactions had gone up by 46.46 per cent in the last fiscal to Rs 38,691.88 crore.