June Sees Slight Dip in Credit Card Spending, RBI Data Reveals
The Reserve Bank of India (RBI) data shows a marginal decline in credit card spending in June compared to May, both in terms of value and volume of transactions. The trend is consistent across major banks, with some variations in the number of outstanding cards.
Credit Card SpendingRbi DataFinancial TransactionsDebit CardsFinancial BehaviourReal Estate MaharashtraJul 25, 2025
Total Value In May & June
In June, the total value of financial transactions done by credit cards issued by banks at PoS terminals stood at 67K crore. In May, the total value was 69.6K crore. In June, the value of online and e-commerce credit card transactions stood at 115K crore against 120K crore in May, according to the RBI data.
Data Of Banks
Credit card numbers show the same trend. The number of outstanding cards is flat. The total number of outstanding cards in June stood at 11,11,97,361 against 11,11,97,596 in May. The June data of HDFC Bank shows 2.44 crore outstanding cards. For ICICI Bank, it is 1.79 crore. BOB has 30.28 lakh outstanding cards. Axis Bank has 1.50 crore.
In May, HDFC Bank had 2.42 crore outstanding cards. ICICI Bank had 1.82 crore. BOB had 30.17 lakh, Axis Bank 1.50 crore. The number of HDFC's outstanding cards declined, and BOB rose marginally, while that of ICICI Bank declined.
When it comes to debit cards, the total value of card transactions (via POS) in June stood at 2.3 lakh crore and via online, they stood at 1.22 lakh crore. The corresponding figures for May were 2.47 lakh crore and 1.21 lakh crore, respectively.
Study Analyses Financial Behaviour
According to another study, 93% of salaried respondents earning less than Rs 50,000 per month rely on credit cards, reported PTI. Over a year-long period, the study analysed the financial behaviour of more than 20,000 salaried and self-employed individuals. It stated that 85% of self-employed individuals rely on credit cards.
Frequently Asked Questions
What is the total value of credit card transactions in June 2023?
The total value of credit card transactions in June 2023 stood at 67K crore for PoS transactions and 115K crore for online transactions, as per RBI data.
How does the number of outstanding credit cards compare between May and June 2023?
The total number of outstanding credit cards in June 2023 was 11,11,97,361, compared to 11,11,97,596 in May 2023, showing a marginal decline.
Which bank showed a decline in the number of outstanding credit cards in June 2023?
HDFC Bank and ICICI Bank both showed a decline in the number of outstanding credit cards in June 2023.
What is the total value of debit card transactions in June 2023?
The total value of debit card transactions in June 2023 stood at 2.3 lakh crore for PoS transactions and 1.22 lakh crore for online transactions.
What percentage of salaried respondents earning less than Rs 50,000 per month rely on credit cards?
According to a study, 93% of salaried respondents earning less than Rs 50,000 per month rely on credit cards.
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