For State Bank Of India, one of the largest public 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 98.69% to 72.76 million by the end of March 2011, whereas the number of credit cards have declined by as much as 16.92 % to 2.30 million. It is interesting to note that the rate of increase of debit cards for SBI has been nearly 10 times faster as compared to ICICI Bank which is 9.97%. Also, the decline rate of credit cards for ICICI Bank as been sharp while for SBI it has been comparatively flat . 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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