Bank card spends rose 6.3% year-on-year to Rs 2.02 lakh crore in Might 2026 from Rs 1.90 lakh crore in Might 2025, and recovered 2.5% sequentially from Rs 1.97 lakh crore in April — a post-financial-year-end bounce that implies some normalisation in shopper spending after the everyday April dip. Whole playing cards in drive stood at 12.04 crore, up 8.3% year-on-year from 11.12 crore in Might 2025.
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SBI Playing cards emerged as the highest card issuer in Might, including 1,81,851 internet new playing cards — its strongest month-to-month efficiency within the current sequence — overtaking ICICI Financial institution which had topped the chart in April. ICICI Financial institution got here second with 1,68,344 additions, adopted by HDFC Financial institution at 1,42,297. IDFC First Financial institution and Federal Financial institution maintained their robust mid-tier momentum, including 87,227 and 1,06,861 playing cards respectively — Federal Financial institution crossing the one lakh addition mark for the third consecutive month.
Axis Financial institution added 52,328 playing cards in Might whereas Kotak Mahindra Ban bounced again strongly with 53,764 additions — a 62.7% sequential leap from 33,038 in April.
IndusInd Financial institution confirmed early indicators of stabilisation — shedding 9,244 playing cards in Might versus 22,214 in April — although it remained in detrimental territory for the fourth consecutive month, having now misplaced a cumulative 53,692 playing cards since February. RBL Financial institution’s decline accelerated, with internet card losses widening to six,116 in Might from 721 in April.
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The business’s broader trajectory stays one in every of regular if moderating development. Whereas card additions have recovered sharply — year-on-year additions of 10.17 lakh in Might 2026 examine with simply 7.61 lakh in Might 2025 — spend development of 6.3% year-on-year stays effectively under the double-digit charges seen in earlier years, pointing to a gradual normalisation in spending depth even because the cardholder base continues to develop.
