The number of credit cards added across the industry was 11.5% higher than in June. The report described demand as healthy, with July recording growth in both card additions and spending. However, it did not provide the exact spending total for the month.

Transaction volumes rose sharply, but the value of an average transaction declined. In simple terms, there were more card transactions, while each transaction was smaller on average. Higher overall spending therefore came alongside a lower amount per transaction, rather than an increase in both measures.

HDFC and SBI were identified as the leaders in card additions. Their individual addition figures and shares of the industry total were not stated in the supplied report. It also did not give a bank-wise breakdown of spending or transaction volumes.

The figures show expansion in card issuance and increased usage during July. They do not explain why average transaction sizes fell, or identify which customer groups or spending categories drove the changes.