Credit card spends fall 2.8% to ₹2.02 trillion in August, shows RBI data | Finance News
Credit card spends slipped by 2.8 per cent to Rs 2.02 trillion in August from Rs 2.08 trillion in July due to a drop in online payments during the month, data released by the Reserve Bank of India (RBI) showed.
E-commerce spends grew by 4.77 per cent in August to Rs 79,355 crore from July, while online spends were down 7 per cent to Rs 1.23 trillion.
Of this, HDFC Bank, the country’s biggest credit card issuer, saw a 1.83 per cent uptick in spending from the previous month to Rs 61,233.45 crore. In contrast, ICICI Bank’s card spends fell 4.9 per cent month-on-month to Rs 32,334 crore, while Axis Bank recorded a drop of 4.7 per cent to Rs 22,704 crore and SBI Card saw a nearly 10.8 per cent drop to Rs 35,312.7 crore.
The overall number of credit cards outstanding rose to 124.05 million in August from 122.85 million in July 2026 and 112.34 million in August 2025. Among the leading card issuers, HDFC Bank added 122,669 cards during the month, taking its total base to 27.09 million. SBI Card added 193,294 cards to reach 22.96 million, while ICICI Bank added 140,498 cards to take its base to 19.83 million. Axis Bank added 32,789 cards, taking its outstanding card base to 16.29 million.
