HDFC Bank Tops the Credit Card Market with 20 Million Issuance, widens gap with nearest rival SBI : The gap between the number of credit cards issued by HDFC Bank and SBI Card widened to 1.5 million at the end of January 2024, from about 1 million cards a year back, data released by the Reserve Bank of India (RBI) showed. HDFC Bank — the largest credit card issuer — achieved record 20.10 million cards in circulation at the end of January 2024, in comparison to 19.88 million in December 2023. Meanwhile, SBI Card, the second-largest issuer, had 18.60 million cards in force as of January 2024. The gap between these card issuers has been widening since August 2023 — it was around 0.73 million in August. The total number of credit cards in circulation was 99.5 million in January 2024, steadily rising from 97.9 million in December 2023. Checkout the credit card reviews.
HDFC Bank is followed by SBI Card, ICICI Bank, and Axis Bank, in terms of the number of credit cards issued.
