SBI tops May card additions; spends climb 1-6% across top five issuers
RBI data: SBI added 1.82L new cards in May 2026, leading issuance. HDFC retains spend crown at Rs 59,138 cr. Kotak and Axis posted sharpest 6% MoM spend growth, signalling resilient discretionary demand across top issuers.
RBI data shows SBI led credit card additions in May 2026 with 1.82 lakh new cards. HDFC remains largest by base with highest spends at Rs 59,138 cr. Spending grew 1-6% MoM across top five issuers, signaling sustained consumer demand.
Why this matters
SBI's issuance lead reinforces its scale play in cards, while HDFC's spend dominance and Kotak/Axis growth point to broad-based discretionary strength across India's top five issuers.
Footfall theme steady with 257 signals tracked in the last 90 days.