After a sharp decline of 86.2 million in previous month, Debit cards once again get back to its track with 10 million new cardholders while Credit cards added a half million. In July 2017, a total of 32.06 million credit cards and 804 million debit cards were in operation, according to the Reserve Bank of India. Between July 2016 and July 2017, India added some 6.91 million credit cards and added 124.04 million debit cards.


​Card usage spiked during the months of November, December and January following the demonetization of Rs 500 and Rs 1000 notes. This forced cardholders to use them. But since February, both debit card and credit card usage have been range-bound. In June 2017, debit cards were down by 86.2 million to 793.83 million, shaving off most of the increase that demonetization brought in.


Number of transactions using credit cards grew by 39.4% year on year, while it rose by 97% for debit cards for the 12 month period ending July 2017. In July, total number of transactions through credit cards were 110.76 million while the figure for debit cards was 254.5 million.

Total amount transacted through credit cards — which was Rs 33,930 crore in July 2017 — increased by 39% in the one year period ending July 2017. Amount transacted through debit cards increased by 102% during the same time. In July 2017, Rs 34,568 crore were transacted through debit cards. Note in the chart above that though the amount transacted using debit cards had surpassed credit cards in November 2016, we’re in a situation where amount transacted using credit cards might surpass debit cards again.


Total amount transacted through credit cards went down by Rs 1,554 crore in July 2017 while amount transacted through debit cards also declined by Rs 2,955 crore.


Average amount transacted per transaction using credit cards — which is an indication of how much amount people are willing to spend in one transaction — decreased between July 2016 and July 2017. For debit cards, it grew by 2.6% during the same time period.