India credit card spending falls 5.9% in September 2026
In short
India’s credit card spending fell 5.9% from a year earlier to ₹2.04 lakh crore in September 2026. It was the first yearly drop since February 2021.
This matters because card spending is a sign of consumer demand. The report says the fall was mostly because festive sales moved in timing, but it does not say how long the slowdown may last.
What the reporting says
India credit card spending fell 5.9% year-on-year to ₹2.04 lakh crore in September 2026, marking the first annual decline since February 2021, according to the publisher summary. The report said the drop was largely due to a shift in festive sales timing. It does not state whether the weakness was broad-based across lenders or how spending changed in other payment categories.
Why it matters
India credit card spending fell 5.9% year-on-year to ₹2.04 lakh crore in September 2026, the first annual contraction since February 2021, according to the publisher summary. The report attributes the decline largely to a shift in festive sales timing. It does not say which banks or card issuers were most affected or whether the weakness will persist.