For the State Bank Of India, India’s largest public sector bank, the number of transactions for credit cards at point of sales increased by 63.68% over a period of two years, while transactions using debit cards went up 262.38%. In contrast, for ICICI Bank, the number of credit cards at point of sales decreased by 18.09% over a period of two years, while transactions using debit cards went up 27.60%. In SBI’s case debit cards outnumber credit cards and so does the number of transactions while in ICICI’s case, although the number of debit cards is more than the credit cards, transactions that being carried out at point of sales are less than those for credit cards.
In March 2011, the average number of transactions using ICICI Bank cards at Point of Sales were
- 1.24 transactions per Credit Card
- 0.23 transactions per Debit Card
Data Source: Reserve Bank of India, via RTI
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