Credit Card Spending Declines by 2.8% to ₹2.02 Trillion in August 2026

In August 2026, credit card spending in India decreased by 2.8% to ₹2.02 trillion, as reported by the Reserve Bank of India (RBI), as per news reports. This decline was primarily due to a 7% reduction in online payments, despite an increase in the number of outstanding credit cards. 

Credit Card Spending Trends in August 2026 

Credit card spending dropped from ₹2.08 trillion in July to ₹2.02 trillion in August 2026. The reduction was largely attributed to a 7% decline in online spending, which fell to ₹1.23 trillion.  

However, e-commerce spending saw a growth of 4.77%, reaching ₹79,355 crore. 

Bank-Specific Spending Data 

HDFC Bank, the largest credit card issuer in the country, experienced a 1.83% increase in spending, amounting to ₹61,233.45 crore.  

Conversely, ICICI Bank's credit card spending fell by 4.9% to ₹32,334 crore.  

Axis Bank and SBI Card also saw declines, with spending dropping by 4.7% to ₹22,704 crore and 10.8% to ₹35,312.7 crore, respectively. 

Increase in Outstanding Credit Cards 

The total number of outstanding credit cards rose to 124.05 million in August 2026, up from 122.85 million in July 2026 and 112.34 million in August 2025.  

HDFC Bank added 1,22,669 cards, bringing its total to 27.09 million. SBI Card added 1,93,294 cards, reaching a total of 22.96 million. ICICI Bank and Axis Bank increased their card bases by 1,40,498 and 32,789, respectively, with totals of 19.83 million and 16.29 million. 

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Conclusion 

In August 2026, credit card spending in India decreased by 2.8% to ₹2.02 trillion, driven by a 7% drop in online payments. Meanwhile, the number of outstanding credit cards increased to 124.05 million, with HDFC Bank leading in card additions. 

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