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The Economic Times

Economy / The Economic Times

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HDFC Bank, SBI dominate Indias credit card spending, top 5 banks control 85.6%

Indias credit card space is rapidly consolidating under major players. HDFC Bank and State Bank of India together now account for nearly half of all card spending, while the top five lenders control more than 85% of transactions. Consumers are increasingly turning to these large, established banks for big-ticket purchases.

26 Feb 2026 5:58 pm