Credit card hits an all time high in May. It reached 1.14 trillion and registered 8% month on month growth over April, reveals the latest data released by the RBI. On a (YoY) basis it grew 118%. The banking system saw an healthy 1.7 million credit card additions in May -the highest was in 27 months and 23.2 %higher than the same month. The surge in additions was led by many banks like HDFC, Axis, SBI Card and ICICI Bank. With May's additions , the country's total card base is now at 76.9 million. The banks added cards in May. HDFC added 38500, Axis Bank added 21500,ICICI Bank added 21200 and SBI Card added 20200.
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