1. Market Leadership
- The State Bank of India (SBI) is the leader in the debit card markets with a share of 24 percent as of August 2025.
2. Breakdown of Market Share by Debit Card.
- Bank of Baroda (BoB): 9%
- Canara Bank, Union Bank, HDFC Bank: 6% each.
- Axis Bank, Punjab National Bank (PNB): 4 percent each.
3. Market dominance of credit cards.
- The credit card market is topped by HDFC Bank with a share of 22%.
- It is then followed by SBI Card (19%), ICICI Bank (16%) and Axis Bank (14%).
4. Growth Trends
- Debit Card Growth:
- Axis bank and HDFC bank recorded the highest Year on year (YoY) growth of 11-12 and 7-8 respectively.
- SBI turned the downward trend by recording a 5% YoY growth.
- Overall Card Usage:
- Transaction volumes on debit cards have increased at a Compound Annual Growth rate (CAGR) of 20 percent in the last four years.
- The use of credit cards has increased at the rate of 19% in the same period.
Month: Current Affairs - October 06, 2025
Category: BANKING, FINANCE AND BUSINESS