Current Affairs - Banking - Discussion

SBI Card has surpassed 20 million credit cards in circulation, marking a significant achievement in its growth since its inception in 1998. The company maintained an impressive compound annual growth rate (CAGR) of 25% in card issuance and 26% in spending from FY19 to FY24. Despite being the second-largest issuer in India, following HDFC Bank, SBI Card continues to show strong growth, supported by innovations, customer-centric services, and expanding market reach across urban and rural areas. This milestone solidifies SBI Card's leadership in the competitive credit card industry.