India is one of the fastest-growing countries in the plastic money segment, with close to 350 million debit cards and 19 million credit cards in circulation.
"Credit cards have a higher share in the discretionary category whereas debit cards dominate in routine expenses like utility payments.
“About 30 per cent of credit card spends are being done online. At least 10-15 per cent of customers use their cards only online, many from smaller cities," the central bank said in a report.
The RBI quoted studies of two major payment networks -- MasterCard and Visa.
According to MasterCard, 75 per cent of all card payments are concentrated in top 20 cities with Delhi, Mumbai and their suburbs alone accounting for 43 per cent.
A Visa study reveals that people in the monthly income band of Rs 75,000-100,000
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