Festive season, GST relief boost per-credit card spend by 15% annually

Credit card spending zoomed during the festival season, aided by a rationalisation of GST rates, with private lenders leading the way

Amid a record rise in overall spending during the festive season, coupled with the GST 2.0 rate rationalisation, lenders have seen 15 per cent year-on-year (Y-o-Y) growth in per-credit card spending in September 2025, latest data released by the Reserve Bank of India showed.

 

Private banks led the way, as HDFC Bank continued to record the highest per-card spend, followed by ICICI Bank.

 

Among leading credit card issuers, HDFC Bank saw 2.8 per cent Y-o-Y increase in per-card spending to Rs 23,959.8, while SBI Card saw a strong increase of 33.5 per cent Y-o-Y to Rs 18,892.3. ICICI Bank logged