India’s credit card usage has increased steadily over the past three years, with both the number of cards in use and total spending rising, says Pankaj Chaudhary.
Vanshika verma | Mar 11, 2026 |
Credit Card Spending of Rs. 21.09 Lakh Crore made by Indians in FY 2024-25
In a written response to questions raised in the Lok Sabha regarding credit card use in India, the Minister of State in the Ministry of Finance, Shri Pankaj Chaudhary, replied on Tuesday, March 10, 2026, that India’s credit card usage has grown steadily over the last three years.
The following are the questions raised in the Lok Sabha:
“(a) the number of credit cards in use in each of the last three years;
(b) the total value of spending on credit cards each year; and
(c) the total unpaid credit card dues, year-wise, in the last three years?”
Answers given by Pankaj Chaudhary (a to c):
Pankaj Chaudhary explained that according to the Reserve Bank of India (RBI), both the number of credit cards being used and the total spending through them have increased over the last three financial years.
| Financial Year | Number of Credit Cards (In Lakhs) | Value (Rs Lakh Crore) |
| 2022-23 | 853.03 | 14.32 |
| 2023-24 | 1,018.03 | 18.31 |
| 2024-25 | 1,098.85 | 21.09 |
However, the RBI has stated that it does not maintain data on unpaid credit card dues.
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