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Indian consumers in February initiated 18.3 million credit card transactions, down 6.6% from 19.6 million during the same month last year. Credit card sales volume, however, increased by 6%, to 49.4 billion rupees (US$1.1 billion or 819.2 million euros) from 46.6 billion rupees, according to data from the Reserve Bank of India.
Indian financial institutions had issued 20.1 million credit cards as of end of February, down...