India's active credit cards cross 120 million in May

India's active credit cards crossed 120 million in May, up 8.3 percent year-on-year from 111.20 million in May 2025. Total card spends stood at around 2.02 lakh crore versus 1.90 lakh crore a year ago, with spending per card improving marginally month-on-month to about 16,778. SBI Cards led monthly additions with 181,851 net new cards, followed by ICICI Bank (168,344) and HDFC Bank (142,297), while analysts flagged a cautious outlook on unsecured retail asset quality.