Credit cards surge past 119 million as HDFC Bank extends lead in spending and PSU banks rise

Published on 29 April 2026

PSU banks grow fast beyond metros, driven by partnerships

India’s credit card universe has crossed 119 million cards, with HDFC Bank tightening its grip on both card counts and spend value. Major players like SBI Cards, ICICI Bank and Axis Bank remain prominent, but public sector banks are gaining momentum—especially in tier-2 and tier-3 cities—supported by wider acceptance networks and strategic partnerships.

India’s credit card market tops 119 million cards
HDFC Bank increases lead in both numbers and spending
PSU banks see faster growth in tier two and three cities
Network expansion and partnerships are key drivers

#credit cards #consumer spending #banking #psu banks #hdfc bank

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This summarization was done by Beige for a story published on The Economic Times

Credit cards surge past 119 million as HDFC Bank extends lead in spending and PSU banks rise

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