Transactions worth Rs 7,191.11 crore were carried out using credit cards in the country

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in June, 2011, translating into a growth of 29.8 per cent over the same month last year.

Credit card transactions during June, 2010, amounted to Rs 5,538.75 crore, according to Reserve Bank of India (RBI) data.

The number of credit cards in circulation has, however, declined by over 6.7 per cent to 1.76 crore as of June 30, 2011, from 1.89 crore at the end of the same period last year.

As per the data, transactions by credit card during the first quarter this fiscal stood at Rs 22,127.50 crore, as against Rs 16,947.87 crore in the first three months of 2010-11, a jump of 30.5 per cent.

Meanwhile, debit card transactions were up by 45.6 per cent in June to Rs 3,783.88 crore from Rs 2,597.49 crore in the corresponding month last year.

There were over 23.95 crore debit cards in use in the country as of June 30, 2011, up 24.8 per cent over the figure of almost 19.19 crore in the year-ago period.

Transactions by debit card during April-May period were up 44.9 per cent to Rs 11,690.79 crore, as against Rs 8,064.51 crore in the year-ago period.

The latest jump in transactions through credit and debit cards signals the continuation of the growth observed in the last fiscal, according to experts.

In 2010-11, transactions through credit cards in the country went up by 22.15 per cent to touch Rs 75,515.68 crore in value terms.

In addition, debit card transactions went up by 46.46 per cent last fiscal to Rs 38,691.88 crore.