Debit card use in India continues to grow, according to the latest data from the country’s central bank. Consumers in October made 14.4 million debit card transactions, up 21% from 11.9 million during the same month last year, the Reserve Bank of India says. The value of the debit card transactions increased 31.1%, to 25.7 billion rupees (US$549.1 million or 383.3 million euros) from 19.6 billion rupees. Meanwhile, credit card transaction volume fell 13.6% in October, to 20.4 million from 23.6 million a year earlier. The value of those transactions decreased 12.1%, to 56.6 billion rupees from 64.4 billion rupees. Indian consumers hold at least 21.2 million credit cards and 162.8 million debit cards, the central bank says.
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