Credit card spends rise 18% to ₹1.84 trillion in April, shows RBI data

Credit card spends surged 18 per cent YoY in April but fell 8.7 per cent from March, as issuers remained cautious on new cards due to stress in unsecured portfolios

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Credit card spends grew 18 per cent year-on-year (Y-o-Y) to ₹1.84 trillion in April, but spending was down 8.7 per cent month-on-month (M-o-M) on a high base effect, latest data released by the Reserve Bank of India (RBI) showed. In March, credit card spends had surged to a four-month high of ₹2.01 trillion.

 

While spends by HDFC Bank, the largest credit card issuer in the country, rose 26.47 per cent Y-o-Y to ₹51,724 crore, SBI Cards clocked 19.6 per cent Y-o-Y growth at ₹29,415 crore. ICICI Bank’s spends rose 19.30 per cent Y-o-Y to ₹35,079 crore, while Axis Bank recorded a 14.68 per cent Y-o-Y increase to ₹21,201 crore. 

Analysts expect credit card spends to remain stable in FY26, supported by growth in consumption. However, they expect net card additions to remain range-bound, as lenders are focused on credit quality and cross-selling to existing customers rather than pursuing aggressive acquisition strategies.

 

Credit card spends grew 18 per cent year-on-year (Y-o-Y) to ₹1.84 trillion in April, but spending was down 8.7 per cent month-on-month (M-o-M) on a high base effect, latest data released by the Reserve Bank of India (RBI) showed. In March, credit card spends had surged to a four-month high of ₹2.01 trillion.

 

While spends by HDFC Bank, the largest credit card issuer in the country, rose 26.47 per cent Y-o-Y to ₹51,724 crore, SBI Cards clocked 19.6 per cent Y-o-Y growth at ₹29,415 crore. ICICI Bank’s spends rose 19.30 per cent Y-o-Y to ₹35,079 crore, while Axis Bank recorded a 14.68 per cent Y-o-Y increase to ₹21,201 crore. 

Analysts expect credit card spends to remain stable in FY26, supported by growth in consumption. However, they expect net card additions to remain range-bound, as lenders are focused on credit quality and cross-selling to existing customers rather than pursuing aggressive acquisition strategies. 

While spends by HDFC Bank, the largest credit card issuer in the country, rose 26.47 per cent Y-o-Y to ₹51,724 crore, SBI Cards clocked 19.6 per cent Y-o-Y growth at ₹29,415 crore. ICICI Bank’s spends rose 19.30 per cent Y-o-Y to ₹35,079 crore, while Axis Bank recorded a 14.68 per cent Y-o-Y increase to ₹21,201 crore. 

Analysts expect credit card spends to remain stable in FY26, supported by growth in consumption. However, they expect net card additions to remain range-bound, as lenders are focused on credit quality and cross-selling to existing customers rather than pursuing aggressive acquisition strategies.