Credit card transactions increase by 5%

During the month of July credit card transactions valued at Rs 5,817.46 crore took place which is an increase of 5% over the transactions posted a month previously.

The transactions on credit card for the month of June were worth Rs 5,538.75 crore, according to RBI data.

But the number of cards in circulation is still the same: 1.89 crores.

However debit card transactions have gone up 12% in the month of July and were worth Rs 2,903.02 crore, as compared to Rs 2,597.49 crore in June.

Besides the number of debit cards in circulation has gone up by around 2% to 19.57 crore on July 2010 as against the month before that.

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