Credit card spends moderated in Apr'26 after the sharp year-end rebound seen in March, with total spends declining to 1.98L Cr from 2.20L Cr in Mar'26. Spends declined ~10.1% MoM (vs ~23.8% growth in Mar'26), while YoY growth softened to ~7.1% (vs ~8.9%), reflecting normalisation after financial year-end spending. Cards-in-force continued to expand, reaching ~119.44 Mn, up ~8.1% YoY and ~0.8% MoM. Net new card additions remained stable at ~9.7 lakh, led by SBI (~1.4 lakh), HDFCB (~1.3 lakh) and AXISB (~0.6 lakh). Transaction volumes also moderated, declining ~3.3% MoM (vs ~16.8% growth in Mar'26), though YoY growth remained healthy at ~23.4% (vs ~25.2%). March spending was aided by year-end transactions and...