Transactions worth Rs 7,191 crore were carried out using credit cards in the country in June, 2011, translating into a growth of 30% over the same month last year.
Credit card transactions during June, 2010, amounted to Rs 5,539 crore, according to Reserve Bank of India (RBI) data.
The number of credit cards in circulation has, however, declined by over 6.7% to 1.76 crore as of June 30, 2011, from 1.9 crore at the end of the same period last year.
As per the data, transactions by credit card during the first quarter this fiscal stood at Rs 22,127 crore, as against Rs 16,948 crore in the first three months of 2010-11, a jump of 30.5%.
Meanwhile, debit card transactions were up by 45.6% in June to Rs 3,784 crore from Rs 2,597.49 crore in the corresponding month last year.
There were over 24 crore debit cards in use in the country as of June 30, 2011, up 25% over the figure of almost 19 crore in the year-ago period.
Transactions by debit card during April-May period were up 45% to Rs 11,690 crore, as against Rs 8,065 crore in the year-ago period.
The latest jump in transactions through credit and debit cards signals the continuation of the growth observed in the last fiscal, according to experts.
In 2010-11, transactions through credit cards in the country went up by 22% to touch Rs 75,516 crore in value terms.
In addition, debit card transactions went up by 46.5% last fiscal to Rs 38,692 crore.
