The month of August has witnessed a 29.1% rise in transactions carried out using credit cards in comparison with the figures for the same month in the fiscal prior to this.
While the total transactions for August 2011 stand at Rs 8,078.98 crore, the amount was Rs Rs 6,259.42 crore in August 2010.
Although transactions using these cards are again on a rise, the number of cards in circulation has seen a dip.
On the contrary, debit cards seem to be increasingly gaining presence as well as acceptance in the world of plastic money.
Transactions using debit cards have seen a 37.3% rise in the month of August this fiscal.
Total transactions for August 2011 stood at Rs 4,560.52 crore from Rs 3,321.09 crore for the same month last fiscal.