According to the data collated by PGA Labs, State Bank of India (SBI) remained the top player with 30 percent market share of debit cards as of June 2022, despite 6 percent decline in year-on-year (Y-0-Y) growth and HDFC Bank has topped the credit card chart with 22 percent market share.

From the report:

  • Debit card — The Bank of Baroda (BoB) has ranked 2nd with 8 percent market share followed by Bank of India, Canara Bank, Union Bank and Punjab National Bank (PNB) with 5 percent market share.
  • Credit card — The HDFC was followed by SBI (18%), ICICI Bank (17%), Axis Bank (12%), RBL Bank (5%) and Kotak Mahindra Bank (5%).

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