Credit Card Spending Surges 2 pc in March to INR 2.19 Lakh Crore

New Delhi, Apr 29 (BNP): India’s credit card spending recorded a strong month-on-month rise in March, increasing by 24% to ₹2,194 billion (₹2.19 lakh crore), supported by seasonal demand and a lower base effect, according to a recent report released on Tuesday.

The data indicates that while overall spending saw a noticeable jump, the broader consumption pattern is gradually stabilising, suggesting a normalisation in credit-driven expenditure trends.

Analysts noted that the increase in March spending was influenced by seasonal factors, which typically drive higher consumer activity during the period. However, when viewed over a longer period, spending growth appears to be moderating compared to earlier high-growth phases.

The report further highlighted that credit card usage continues to remain an important indicator of urban consumption, reflecting spending behaviour across categories such as retail, travel, and services.

Despite short-term fluctuations, experts suggest that consumer spending remains steady, with credit usage aligning more closely with income growth and broader economic conditions.

Overall, the data points to a healthy but stabilising credit card market, where sharp monthly increases are balanced by a more sustainable long-term growth trend.