For ICICI Bank, one of the largest private sector banks of India, the number of credit cards has been consistently decreasing, even as the number of debit cards has been increasing: as per data retrieved by MediaNama using the Right To Information Act, over a span of 2 years, the number of debit cards have gone up by 9.97% to 15.96 million by the end of March 2011, whereas the number of credit cards have declined by as much as 55.21 % to 3.43 million. In total, India had 227.84 million debit cards and 18.04 million credit cards at the end of March 2011.
Data Source: Reserve Bank of India, via RTI
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