The new data released by the Reserve Bank of India (RBI) has revealed that in January 2025, credit card expenses increased year-on-year (YOY) by 10.8 percent to Rs 1.84 trillion, although there has been a slight drop in gradually. At the same time, HDFC Bank's credit card expenditure increased by 15.91 percent to Rs 50,664 crore as compared to the previous equal period.
SBI's expenditure declined by 6 percent to Rs 28,976 crore as compared to the same period last year, ICICI Bank's expenditure has increased by 20.25 percent to Rs 35,682 crore as compared to the same period last year. On the other hand, Axis Bank's expenditure has come down by 0.45 percent to Rs 20,212 crore.
The cost of Rs 16,910 per card in Ughog was Rs 1.09 percent more than the same period last year. HDFC Bank's per card expenses fell by 0.61 percent to Rs 21,609.93 on an annual basis, 14.23 percent declined by Rs 14,147 on an annual basis and Rs 7.38 percent in Axis Bank to Rs 13,673.41. Let me tell you that ICICI Bank recorded an increase of 11.69 percent per card expenses compared to last year, which increased to Rs 19,730.81.
The data shows that there has also been a slight decline in issuing credit cards in January compared to December 2023. A total of 8,17,279 cards have been added in this month as compared to adding 8,20,000 cards in December 2024. In the month of January, the total number of cards increased by 9.4 percent to 108.87 million. At the same time, HDFC Bank added 2,99,761 cards in January. Similarly, SBI cards added 2,34,537 cards and ICICI Bank added 1,83,157 cards.
