Mumbai: Data released by the Reserve Bank of India (RBI) showed that the credit card spending has crossed Rs 1.13 lakh crore in May, It was at Rs 1.05 lakh crore in April. RBI said that the surge in the month-on-month spending through cards indicates a pick-up in economic activity.
As per the data, 7.68 crore credit card holders spent about Rs 71,429 crore for buying online and Rs 42,266 crore was spent through swipes at Point of Sale (PoS) machines. Credit card holders spent Rs 65,652 crore for buying online, while the amount spent through Point of Sale (PoS) machines was Rs 39,806 crore in April.
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The spending through PoS and online together was Rs 65,957 crore through the debit card during May. The spending through PoS was Rs 44,305 crore against e-commerce spending of Rs 21,104 crore through the debit card in May.
In May, there has been an addition of about 20 lakh credit cards. The number of the card was 7.51 crore in April.
HDFC Bank had the highest number of credit cards at 1.72 crore in May. It is followed by the State Bank of India (1.41 crore) and ICICI Bank (1.33 crore).
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