IMGCAP(1)]
Consumers in India spent 5.8 trillion rupees (US$130.5 billion or 89.8 billion euros) using credit cards during the fiscal year ended 31 March, up 41.5% from 4.1 trillion rupees during the previous fiscal year, the Reserve Bank of India says. The number of credit card transactions increased 34.6%, to 228.2 million from 169.5 million. Credit card outstandings stood at 58.4 billion rupees on 31 March, up 43.5% from 40.7 billion rupees a year earlier. Consumers in India used debit cards to spend 125.2 billion rupees during the fiscal year, up 18.6% from 105.6 billion rupees the previous year, the bank says. Debit card transactions rose 46.7%, to 88.3 million from 60.2 million, the bank says. The bank says financial institutions had issued 88.3 million credit and debit cards by 31 March, up 46.7% from 60.2 million cards at the same time last year. India had 36,314 ATMs as of the end of March, up 26.5% from 28,704 ATMs a year earlier, the bank says.
