India credit cards increased by a net 1.26 million in September 2026, the second-highest monthly addition of the year, as lenders expanded their portfolios ahead of the festive season, Reserve Bank of India data showed.

India credit cards growth accelerates

September’s net additions were 5.5% higher than the 1.20 million recorded in August. July had the year’s highest monthly total, at 1.27 million.

For the July–September quarter, lenders added a net 3.72 million cards, up nearly 47% from 2.54 million in the same period of 2025. The total number of outstanding cards reached 125.32 million at the end of September, up 10.4% from a year earlier.

HDFC and Axis lead additions

HDFC Bank and Axis Bank together added 539,878 cards in September, accounting for nearly 43% of the monthly net increase. HDFC added 280,353 cards and Axis added 259,525.

SBI Cards followed with 208,026 additions. Bank of Baroda added 114,083, while Slice Small Finance Bank added 89,794 and Federal Bank added 81,753.

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