Credit card payment down 11 pc

During the April-July 2009 period, the payments made through credit card stood at Rs 19,569 crore, against Rs 22,031 crore in the first four months of the last fiscal, according to RBI.

In April this year, Rs 4,932 crore payments were made through credit card that declined to Rs 4,815 crore in May. In June, Rs 4,863 crore credit cards payment were made, while the figure stood at Rs 4,957 crore in July.

The decline in payment  may be due to the adverse impact of financial meltdown on India. Besides, retail consumers have become cautious in taking credit to make their payments.

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