Incidents of credit card fraud in India last year dropped dramatically from two years ago, driven by better card-security measures deployed by banks, new data show.

Replying to a query raised in the Indian Parliament, Narain Meena Namo, the minister of state for finance, revealed that credit card fraud decreased 65%, to 7,305 incidents in 2011 from 20,806 cases in 2009, citing data from the Reserve Bank of India.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry