Credit card transactions up 16 pc in Q1

The country witnessed an almost 16 per cent jump in transactions carried out by means of credit cards during the first three months of the current fiscal at Rs 16,947.86 crore.

Credit card transactions during the same quarter of 2008-09 were at Rs 14,611.66 crore, according to figures released by the Reserve Bank of India on Wednesday.

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The number of credit cards in circulation have, however, gone down by 17 per cent to 1.89 crore as on June 30, as against 2.28 crore in the same period last fiscal.

Meanwhile, debit card transactions during the April-June period was up by over 47 per cent at Rs 8,064.50 crore, as against Rs 5,480.62 crore during the year-ago period.

There were 19.19 crore debit cards in use in the country as on June 30, up 31 per cent over the figure of 14.64 crore at the end of first quarter of 2008-09.

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