Debit card issuances gather pace
Business Standard|October 06, 2022
FY23 numbers are encouraging after a seven-month slowdown in FY22
MANOJIT SAHA
Debit card issuances gather pace

Commercial banks issued around 17 million cards during the first five months of the current financial year as compared to 13 million issued during the comparable period of last year.

Debit card issuances slowed down during the last seven months of the previous financial year, which saw addition of only six million cards as banks cleaned up their card portfolios by weeding out inactive plastic.

According to Worldline's digital payments report, the total number of credit and debit cards in circulation by the end of Q2 of CY22 (June-end) was one billion.

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