Chennai, Nov. 8 -- 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 ...