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India’s credit card transactions up nearly 28pc in Jan

Credit card transactions worth INR6,934.65 crore (INR 69.35 billion, USD1.54 billion) were carried out in India in January, showing growth of 27.82 percent compared to the same period last year.

The number of credit cards in circulation have, however, declined by over 10 percent to 1.81 crore (18.1 million) as of 31 January from 2.02 crore (20.2 million) in the same period last year.