Business EconomyPosted at: Nov 8 2025 1:04AM


Credit card spend increased 23 pc in September to Rs 2.17 lakh crore

Chennai, Nov 7 (UNI) The swiping of credit cards for spending increased by 23 percent in September 2025 year-on-year (y-o-y) and by 13 percent sequentially to Rs 2.17 lakh crore, said credit rating agency CARE Ratings.
According to CARE Ratings, the increased credit card spend is attributed to bank-led festive offers, increasing consumer demand driven by the festive season spending, spurred by GST reduction, along with increased card issuances for the month.
This growth was marginally lower than the 24.0 percent growth seen in the same period last year.
According to the rating agency, private banks maintained their dominance in the credit card spending market with a 74.2 percent share in September 2025, although this was a 130-basis point decrease y-o-y.
Meanwhile, public sector banks increased their share to 21.2 percent from 18.4 percent.
The public sector bank market remains concentrated among a few large players.
The total number of outstanding credit cards grew from 10.6 crore in September 2024 to 11.3 crore in September 2025, reflecting a steady increase in card penetration.
Private banks’ average spending per card in September 2025 was Rs 20,011, a 3 percent rise y-o-y. Conversely, public sector banks experienced a more significant increase of 30 percent, with per-card spending rising to Rs 16,927.
The share of credit card outstanding balances in total retail loans declined to 4.5 percent in September 2025 from 4.9 percent a year earlier, indicating a relative slowdown in credit card outstandings even as other retail segments expanded, CARE Rating said.
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Tags: #Credit card spend increased 23 pc in September to Rs 2.17 lakh crore
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