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Consumers in India made 14.8 million debit card transactions in August, a 32.1% increase from 11.2 million during the same month last year, according to the Reserve Bank of India, the country's central bank. Spending with debit cards grew 33.9%, to 23.3 billion rupees (US$505.6 million or 339.3 million euros) in August from 17.4 billion rupees. By comparison, consumers in India conducted 19.7 million credit card transactions in August, down 12.8% from 22.6 million a year earlier. Credit card pending dropped 16.2%, to 48.6 billion rupees from 58 billion rupees, the central bank reports. Indians holds some 22 million credit cards and 155 million debit cards, the bank says.
