ASSOCHAM
50 crore debit cards in three years, says ASSOCHAM About 54 crore bank customers in India are expected to be issued debit cards in the next three years marking an impressive rate of inclusive banking, while the number of credit cards would remain at less than three crore in the same period, according to an ASSOCHAM study. As on December, 2012, as many as 31.44 crore bank customers have been issued the debit cards and the number is growing at a compound annual rate of about 18 per cent. With focus on more and more bank inclusion, the pace of growth is only expected to sustain, if not improve. “This would take the number of bank debit cards to well over 54 crore in the next three financial years,” the ASSOCHAM study indicated. This would mean that just a little less than half of the country’s population would have access to the debit cards and thus would benefit from the financial inclusion. ...