India by the numbers

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Credit cards

Data through

India had 125.32 million credit cards outstanding

Cards in circulation are not unique people. Payments and cash withdrawals remain separate measures.

Credit cards

Full series: Credit cards by bank

Source: Reserve Bank of India, India Dispatch Research

Credit cards in circulation

India had 125.32 million credit cards in circulation in September 2026

Cards outstanding at month end, August 2023 to September 2026.

Number in circulation at month end across reporting banks. View every observation in the data table Credit cards in circulation. Latest shown reading: 125.32 million in September 2026.

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Credit card payments

Cardholders made 610.1 million credit-card payments worth ₹2.04 trillion (₹2.04 lakh crore) ($21.8 billion) in September 2026

Payment value excludes credit-card cash withdrawals.

Payment value · September 2026₹2.04 trillion$21.8 billion
Axis in INR. Paired USD values use the site’s dated reference rate. View every observation in the data table Credit card payment value. Latest shown reading: ₹2.04 trillion ($21.8 billion) in September 2026.
Payment volume · September 2026610.1 million
Monthly credit-card payment transactions across reporting banks. View every observation in the data table Credit card payment volume. Latest shown reading: 610.1 million in September 2026.

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Online vs swipe

61.8% of credit-card payment value was online in September 2026

The remaining value was reported at physical points of sale or in RBI's separately reported other channel.

Online credit-card payment value as a share of all payment value reported by banks. Cash withdrawals are excluded. View every observation in the data table Online share of credit-card payment value. Latest shown reading: 61.8% in September 2026.

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Source: Reserve Bank of India, India Dispatch Research

Largest card books

The ten largest bank books held 89% of India’s credit cards in September 2026

Shares use cards outstanding at month end.

01HDFC Bank27.38 million
02State Bank of India23.17 million
03ICICI Bank19.86 million
04Axis Bank16.55 million
05IDFC First Bank5.01 million
06Kotak Mahindra Bank4.89 million
07RBL Bank4.72 million
08Bank of Baroda3.49 million
09Yes Bank3.12 million
10IndusInd Bank2.97 million

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Card-book changes

HDFC Bank added 280,353 credit cards while SBM Bank India reduced its credit-card book by 31,615 in September 2026

Each figure is the net change in cards outstanding at month end.

Compared with August 2026

Most cards added

Net change
  1. 01HDFC Bank+280,353
  2. 02Axis Bank+259,525
  3. 03State Bank of India+208,026
  4. 04Bank of Baroda+114,083
  5. 05Slice Small Finance Bank+89,794
  6. 06Federal Bank+81,753
  7. 07IDFC First Bank+56,634
  8. 08Yes Bank+41,427
  9. 09Punjab National Bank+39,754
  10. 10AU Small Finance Bank+36,096

Most cards withdrawn

Net change
Banks with credit-card book reductions, compared with August 2026
BankReduction
SBM Bank India31,615
American Express Banking Corporation13,895
Standard Chartered Bank12,755
DBS Bank India3,015
South Indian Bank2,930
CSB Bank2,468
Union Bank of India1,420
IndusInd Bank778
ESAF Small Finance Bank289
Indian Bank217

data.indiadispatch.com

Source: Reserve Bank of India, India Dispatch Research

What the figures measure

Credit-card payments totalled ₹2.04 trillion (₹2.04 lakh crore) · $21.8 billion in September 2026. Cards outstanding measure cards in circulation, not unique people.

+1.1% compared with August 2026.

+5.6% compared with March 2026.

+10.4% compared with September 2025.

Comparisons above refer to cards outstanding. Payment transactions and payment value exclude cash withdrawals.

One person may hold several cards. A bank’s card count is not its share of card spending.

The table retains the source’s published periods. Missing observations are not zero and have not been interpolated.

Dollar equivalents use the site’s reference rate of $1 = ₹93.69 on 11 November 2026, not historical exchange rates.

Dollar equivalents use the same reference rate throughout, not the historical exchange rate for each observation. FX as of 11 November 2026.

Monthly cards and payments

Monthly cards and payments
MonthCardsPayment transactionsPayment valueOnline payment-value share
September 2026125.32 million610.08 million₹2.04 trillion (₹2.04 lakh crore) · $21.8 billion61.82%
August 2026124 million632.45 million₹2.02 trillion (₹2.02 lakh crore) · $21.6 billion60.75%
July 2026122.86 million605.27 million₹2.08 trillion (₹2.08 lakh crore) · $22.2 billion63.57%
June 2026121.59 million581.26 million₹2.01 trillion (₹2.01 lakh crore) · $21.5 billion63.07%
May 2026120.45 million595.5 million₹2.03 trillion (₹2.03 lakh crore) · $21.6 billion62.24%
April 2026119.46 million559.53 million₹1.97 trillion (₹1.97 lakh crore) · $21.1 billion62.53%
March 2026118.63 million577.48 million₹2.19 trillion (₹2.19 lakh crore) · $23.4 billion64.21%
February 2026117.7 million493.8 million₹1.77 trillion (₹1.77 lakh crore) · $18.9 billion61.92%
January 2026116.65 million539.71 million₹1.99 trillion (₹1.99 lakh crore) · $21.2 billion61.79%
December 2025115.79 million539.83 million₹2.05 trillion (₹2.05 lakh crore) · $21.8 billion61.63%
November 2025115 million502.98 million₹1.89 trillion (₹1.89 lakh crore) · $20.2 billion59.9%
October 2025114.13 million518.29 million₹2.14 trillion (₹2.14 lakh crore) · $22.9 billion58.73%
September 2025113.51 million495.24 million₹2.17 trillion (₹2.17 lakh crore) · $23.1 billion66.5%
August 2025112.5 million493.58 million₹1.91 trillion (₹1.91 lakh crore) · $20.4 billion61.92%
July 2025111.81 million486.18 million₹1.94 trillion (₹1.94 lakh crore) · $20.7 billion63.68%
June 2025110.97 million458.71 million₹1.83 trillion (₹1.83 lakh crore) · $19.5 billion63.14%
May 2025111.05 million467.69 million₹1.9 trillion (₹1.9 lakh crore) · $20.3 billion63.32%
April 2025110.44 million450.27 million₹1.84 trillion (₹1.84 lakh crore) · $19.7 billion63.14%
March 2025109.88 million458.65 million₹2.01 trillion (₹2.01 lakh crore) · $21.5 billion64.52%
February 2025109.32 million396.96 million₹1.67 trillion (₹1.67 lakh crore) · $17.8 billion62.84%
January 2025108.87 million430.57 million₹1.84 trillion (₹1.84 lakh crore) · $19.7 billion62.29%
December 2024108.06 million432.85 million₹1.88 trillion (₹1.88 lakh crore) · $20.1 billion61.13%
November 2024107.24 million393.6 million₹1.69 trillion (₹1.69 lakh crore) · $18.1 billion59.69%
October 2024106.89 million433.21 million₹2.02 trillion (₹2.02 lakh crore) · $21.5 billion60.7%
September 2024106.1 million392.16 million₹1.76 trillion (₹1.76 lakh crore) · $18.8 billion65.46%
August 2024105.42 million390.05 million₹1.68 trillion (₹1.68 lakh crore) · $18 billion62.51%
July 2024104.57 million383.78 million₹1.73 trillion (₹1.73 lakh crore) · $18.4 billion63.93%
June 2024103.81 million357.95 million₹1.59 trillion (₹1.59 lakh crore) · $17 billion62.59%
May 2024103.3 million360.14 million₹1.65 trillion (₹1.65 lakh crore) · $17.6 billion61.3%
April 2024102.54 million344.15 million₹1.56 trillion (₹1.56 lakh crore) · $16.7 billion60.39%
March 2024101.8 million343.94 million₹1.64 trillion (₹1.64 lakh crore) · $17.6 billion63.29%
February 2024100.6 million311.24 million₹1.49 trillion (₹1.49 lakh crore) · $15.9 billion63.52%
January 202499.5 million328.95 million₹1.66 trillion (₹1.66 lakh crore) · $17.8 billion64.83%
December 202397.9 million321.5 million₹1.65 trillion (₹1.65 lakh crore) · $17.6 billion64.69%
November 202396 million297.09 million₹1.61 trillion (₹1.61 lakh crore) · $17.1 billion63.26%
October 202394.71 million320.05 million₹1.79 trillion (₹1.79 lakh crore) · $19.1 billion67.65%
September 202393.02 million273.94 million₹1.42 trillion (₹1.42 lakh crore) · $15.2 billion65.26%
August 202391.28 million290.58 million₹1.49 trillion (₹1.49 lakh crore) · $15.9 billion64.36%

data.indiadispatch.com

Cards by bank in September 2026

Cards by bank in September 2026
BankCards
HDFC Bank27.38 million
State Bank of India23.17 million
ICICI Bank19.86 million
Axis Bank16.55 million
IDFC First Bank5.01 million
Kotak Mahindra Bank4.89 million
RBL Bank4.72 million
Bank of Baroda3.49 million
Yes Bank3.12 million
IndusInd Bank2.97 million
Federal Bank2.82 million
Canara Bank1.31 million
American Express Banking Corporation1.29 million
AU Small Finance Bank1.17 million
Punjab National Bank1.09 million
HSBC1.02 million
SBM Bank India736,170
Slice Small Finance Bank596,951
Standard Chartered Bank540,916
Union Bank of India504,514
Unity Small Finance Bank459,171
Utkarsh Small Finance Bank373,237
South Indian Bank325,421
Citibank283,748
DBS Bank India277,882
Indian Bank272,101
Indian Overseas Bank211,113
CSB Bank187,644
Jammu and Kashmir Bank182,035
Bank of India165,284
City Union Bank64,768
Suryoday Small Finance Bank60,647
IDBI Bank53,016
DCB Bank45,750
Bandhan Bank31,416
Equitas Small Finance Bank30,642
Tamilnad Mercantile Bank18,621
Dhanalaxmi Bank13,203
Karur Vysya Bank8,547
ESAF Small Finance Bank7,799
Bank of Maharashtra0
Central Bank of India0
Punjab and Sind Bank0
UCO Bank0
Karnataka Bank0
Nainital Bank0
Bank of America0
Bank of Bahrain & Kuwait B.S.C.0
Barclays Bank Plc0
Deutsche Bank0
Doha Bank Q.P.S.C.0
KEB Hana Bank0
Kookmin Bank0
Woori Bank0
Airtel Payments Bank0
Fino Payments Bank0
India Post Payments Bank0
Jio Payments Bank0
NSDL Payments Bank0
Capital Small Finance Bank0
Jana Small Finance Bank0
Shivalik Small Finance Bank0
Ujjivan Small Finance Bank0

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Cite this reading

India by the numbers, Credit cards, September 2026. Credit cards outstanding: 125.32 million cards. Source: Reserve Bank of India. https://data.indiadispatch.com/payments/credit-cards

Published content updated . This is separate from the source observation period.

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