HDFC Bank leads India's credit card market with 22% share, SBI Card tops spending growth
India's credit card market hit ₹2.02 lakh crore in spends in May 2026 across 12.1 crore cards. HDFC Bank leads cards-in-force (22%) and spend share (29.2%), while SBI Card (18.6% cards, 19.1% spend) leads in growth. Federal Bank and IDFC First emerging as fastest issuers; 587M transactions averaging ₹16,769 per card.
India credit card market in May 2026: HDFC Bank leads cards-in-force (22%) and spend share (29.2%), SBI Card leads in spend growth and per-card spend. Federal Bank, IDFC First emerging as fastest-growing issuers; spend recovery gradual.
Why this matters
HDFC Bank cements credit card dominance even as SBI Card and challengers like Federal Bank and IDFC First accelerate issuance, signaling intensifying competition in India's ₹2 lakh crore monthly spend market.
Retail-company signals steady at 3,913 over the past 90 days, reflecting sustained sector activity.