India’s Top 4 Credit Card Issuers Clock Rs. 1.58 Lakh Crore Spending in July 2026

HDFC Bank Leads Credit Card Spending

HDFC Bank remained India’s largest credit card issuer by spending in July 2026. Its cards recorded around Rs. 60,218 crore in transactions during the month. The bank accounted for nearly 28.9% of India’s total credit card spending, with its monthly spending rising 1.3% from June and 11.9% year-on-year.

SBI Card Records Rs. 39,592 Crore Spending

SBI Card recorded around Rs. 39,592 crore in credit card spending during July 2026. Its spending declined 3.6% from June, although it still posted strong annual growth of about 21.6%. SBI also held around 19% of the overall credit card spending market, according to July industry data.

ICICI Bank Reaches Rs. 34,025 Crore

ICICI Bank’s credit cards generated around Rs. 34,025 crore in spending during July 2026. The bank saw one of the strongest monthly recoveries among the leading issuers, with spending rising 8.3% from June. However, its July spending remained lower than the year-ago level, according to RBI-based industry data.

Axis Bank Records Rs. 23,825 Crore

Axis Bank recorded approximately Rs. 23,825 crore in credit card spending during July. Its spending increased 7.4% month-on-month, showing a stronger monthly performance than HDFC Bank and SBI Card. Axis accounted for about 11.4% of total industry spending, while its credit card base continued to remain among India’s largest.

Top Four Issuers Cross Rs. 1.58 Lakh Crore

Combined spending by HDFC Bank, SBI Card, ICICI Bank, and Axis Bank came to roughly Rs. 1.58 lakh crore in July 2026. Their combined figure highlights the concentration of India’s credit card market among its biggest issuers, even as smaller banks continue adding cards and gaining market share.

India’s Total Credit Card Spending Hits Rs. 2.08 Lakh Crore

Overall credit card spending in India reached about Rs. 2.08 lakh crore in July 2026, rising 3.4% from June and 7.4% from July 2025. The total remained above the Rs. 2 lakh crore mark for the third consecutive month, showing continued growth in card-based payments.

Credit Card Base Expands Further

India had around 12.29 crore credit cards outstanding by July 2026. Banks added a net 1.26 million cards during the month, an 11.5% increase over June additions. Transaction volumes also climbed 24.5% year-on-year to about 60.5 crore, while the average transaction value fell to nearly Rs. 3,440.

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