The Reserve Bank of India's (RBI's) Payment Systems Report highlighted that between 2019 and 2024, credit card transactions doubled in volume and almost tripled in value. During the same period, however, debit card transactions witnessed a decline, both in volume and value.
A case has been registered against a US-based organisation and six others after the Enforcement Directorate lodged a complaint alleging illegal utilisation of foreign funds through a network of foreign debit cards, including in Left Wing Extremism (LWE)-affected areas of the country.
The Enforcement Directorate (ED) is investigating the use of foreign debit cards by a global Christian mission to withdraw crores of rupees in Naxal violence-hit regions of India. Searches were conducted in multiple states, and foreign debit cards, cash, and digital devices were seized.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, driven by private sector banks, while debit card usage declines due to growing adoption of UPI and digital wallets, according to an RBI report.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, reaching 570 crore volumes and Rs 23.2 lakh crore in value, with private sector banks significantly increasing their market share, according to a recent RBI report.
Delhi Police busted an illegal forex trading call centre in Indore, arresting six individuals involved in defrauding victims nationwide through fake online investment schemes. The syndicate allegedly used a fake trading platform to lure people into investing in forex and online trading products, showing fabricated profits and gains.
Gujarat police have dismantled a Rs 77 crore cyber fraud operation with links to 375 cases nationwide, arresting 16 individuals and uncovering international connections.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
The Reserve Bank of India (RBI) has proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal.
Using credit or debit cards abroad can prove costly.
Foreigners and NRIs would now be able to book train tickets in India online by using international debit and credit cards through IRCTC website.
In a major counter-terror operation spanning three states, the Delhi Police has dismantled a Lashkar-e-Taiba (LeT) module comprising eight operatives, including seven Bangladeshi nationals who had illegally entered India and procured forged identity documents, an official said on Sunday.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
The federal probe agency also said it seized Rs 12 crore in cash (including about Rs crore in foreign currency), gold jewellery worth Rs 6 crore, silver about 10 kg along with four vehicles following raids launched on Friday in multiple states.
The Union finance ministry on Thursday issued a clarification on the changes in FEMA rules which brings overseas international credit card spending under the RBI's liberalised remittance scheme (LRS). Here's how it affects you.
Travel is about making memories, experiencing the unknown, and engaging in new experiences -- not worrying about fluctuating exchange rates or hidden expenditures. With a little planning and a proactive approach to handling your foreign exchange, you can reduce financial stress and enjoy your trip, suggests Pavan Kavad.
Six compelling reasons to use your credit card. WARNING: reckless use of plastic can land you in a debt rap
If you do not overspend, we advise you to get yourself a credit card. It will open up a whole new world of benefits.
On instructions from Finance Minister Pranab Mukherjee, the Intelligence Bureau has taken up the task of identifying a sudden quantum jump in the amount of foreign money flowing in the country through withdrawals by foreigners on credit and debit cards issued by foreign banks.
Some banks might charge you a nominal amount of Rs 100-150 for issuing the card.
On instructions from Finance Minister Pranab Mukherjee, the Intelligence Bureau has taken up the task of identifying sudden quantum jump in the foreign money flowing in the country through withdrawals by foreigners on credit and debit cards issued by the foreign banks.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
It is suggested that you get your SIM locked with which the wallet account is mapped.
and three times when you should actually use them
'Most tax notices arise not from wrongdoing, but from unintentional mismatch or ignorance.'
RuPay has 42% of total debit cards, but contributes only 16% of PoS, e-commerce transactions. With banks scheduled to renew deals with Visa, Mastercard, here's how RuPay plans to increase its reach to premium customers.
Currently, foreigners book their tickets online through tour operators.
Travel cards are like debits cards-loaded with the currency of your choice or which the lenders offer.
The bank was rapped for not activating a debit card of a couple 'trapped in a foreign country'
PhonePe said on Tuesday it has launched a service that will allow the fintech firm's Indian users traveling abroad to pay foreign merchants using Unified Payments Interface (UPI). 'UPI international' supports merchant outlets in UAE, Singapore, Mauritius, Nepal and Bhutan that have a local QR (quick response) code. Users will be able to make direct payments in a foreign currency from their Indian bank, like they do with international debit cards.
Foreigners and NRIs will soon be allowed to book train tickets online for domestic travel in India from abroad using their credit or debit cards.
'In restaurants, the waiter takes your card and then comes back with the machine. Don't allow that.' 'Let him come to you with the machine and then enter the card and the PIN yourself.'
The new regulations leave registration capital requirements for wholly foreign-owned banks unchanged
With debit cards of 5 banks compromised, time to be very cautious while transacting. If possible, avoid non-bank ATMs.
Mayank Goyal, founder and CEO, moneyHOP, will answer queries related to how to best manage your money while travelling internationally.
Tax payers can now deposit income tax from the bank accounts of any person in addition to credit and debit cards, the Central Board of Direct Taxes said.
Looking to regain lost ground in the credit cards segment, HDFC Bank on Monday announced a tie-up with leading payments company Paytm to start selling co-branded plastics before the onset of the festive season. The credit cards will be powered by Visa and will include offerings targeted at millennials, business owners and merchants, an official statement said. Paytm has a reach of over 330 million consumers and 21 million merchants, while HDFC Bank has over 5 million debit, credit and prepaid cards, and serves 2 million merchants through its offerings.
In the domestic market, the cost is a third but in the international market, we are finding it difficult to price it accordingly.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
