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<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Schedule_Of_Analysts_Or_Institutional_Investors_Meeting/2026-03-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Schedule_Of_Analysts_Or_Institutional_Investors_Meeting/2026-03-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-03-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543066</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-15</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_OutcomeOfAnalystsOrInstitutionalInvestorsMeeting1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543066</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-15</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:OutcomeOfAnalystsOrInstitutionalInvestorsMeetingAxis"><in-capmkt:OutcomeOfAnalystsOrInstitutionalInvestorsMeetingDomain>OutcomeOfAnalystsOrInstitutionalInvestorsMeetingDomain1</in-capmkt:OutcomeOfAnalystsOrInstitutionalInvestorsMeetingDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">SBICARD</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">SBI CARDS AND PAYMENT SERVICES LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">543066</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE018E01016</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:PurposeOfDisclosure contextRef="MainI">Schedule of Analysts or Institutional Investors Meet</in-capmkt:PurposeOfDisclosure><in-capmkt:StageOfMeetingOrCallOrConferenceOrEvent contextRef="MainI">Outcome</in-capmkt:StageOfMeetingOrCallOrConferenceOrEvent><in-capmkt:DateOfReport contextRef="MainI">2026-09-15</in-capmkt:DateOfReport><in-capmkt:TypeOfMeetingForWhichOutcomeIsProvided contextRef="I_OutcomeOfAnalystsOrInstitutionalInvestorsMeeting1">Institutional Investor Meet</in-capmkt:TypeOfMeetingForWhichOutcomeIsProvided><in-capmkt:WhetherPriorIntimationOrScheduleOfMeetingOrCallOrConferenceOrEventWasDisclosedForOutcome contextRef="I_OutcomeOfAnalystsOrInstitutionalInvestorsMeeting1">true</in-capmkt:WhetherPriorIntimationOrScheduleOfMeetingOrCallOrConferenceOrEventWasDisclosedForOutcome><in-capmkt:DateOfPriorIntimationOrScheduleOfMeetingOrCallOrConferenceOrEventWasDisclosedForOutcome contextRef="I_OutcomeOfAnalystsOrInstitutionalInvestorsMeeting1">2026-09-15</in-capmkt:DateOfPriorIntimationOrScheduleOfMeetingOrCallOrConferenceOrEventWasDisclosedForOutcome><in-capmkt:WhetherUnpublishedPriceSensitiveInformationSharedInMeetingOrCallOrConferenceOrEvent contextRef="I_OutcomeOfAnalystsOrInstitutionalInvestorsMeeting1">false</in-capmkt:WhetherUnpublishedPriceSensitiveInformationSharedInMeetingOrCallOrConferenceOrEvent><in-capmkt:WhetherOutcomeOfMeetingIncludesPresentation contextRef="I_OutcomeOfAnalystsOrInstitutionalInvestorsMeeting1">false</in-capmkt:WhetherOutcomeOfMeetingIncludesPresentation><in-capmkt:AnyOtherDisclosureWithRespectToComplianceOfAnySEBIActOrRegulationOrCircularOrProvisionForOutcomeOfMeeting contextRef="MainI">In furtherance to our letter dated September 08, 2026 and pursuant to the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we advise that Company's representatives participated in Group Meeting(s) held on 15.09.2026 at Gurugram at 11:30 AM (Concluded at 02:30 PM) organized by Jefferies. The list of participants is mentioned below:- &lt;br /&gt; 
 &lt;br /&gt; 
 &lt;br /&gt; 
S. No.	List of Participants &lt;br /&gt; 
1.		Algebris Investments &lt;br /&gt; 
2.		Arga Investment Management &lt;br /&gt; 
3.		Ashmore Investment Management &lt;br /&gt; 
4.		Axis Asset Management Company &lt;br /&gt; 
5.		Bajaj Allianz Life Insurance &lt;br /&gt; 
6.		Breakout Capital &lt;br /&gt; 
7.		C Worldwide Asset Management &lt;br /&gt; 
8.		California State Teachers' Retirement System (CALSTRS) &lt;br /&gt; 
9.		DSP Investment Managers &lt;br /&gt; 
10.		Dymon Asia Capital &lt;br /&gt; 
11.		Fidelity International Limited (FIL) &lt;br /&gt; 
12.		Franklin Templeton Investment Management &lt;br /&gt; 
13.		GIC Private &lt;br /&gt; 
14.		Goldman Sachs Asset Management (GSAM) &lt;br /&gt; 
15.		HDFC Asset Management &lt;br /&gt; 
16.		Icici Prudential Asset Management &lt;br /&gt; 
17.		Julius Baer Wealth Advisors (India) &lt;br /&gt; 
18.		Lazard Asset Management &lt;br /&gt; 
19.		Letko, Brosseau &amp; Associates &lt;br /&gt; 
20.		M&amp;G Investment Management &lt;br /&gt; 
21.		Marshall Wace &lt;br /&gt; 
22.		Max Life Insurance &lt;br /&gt; 
23.		Polymer Capital &lt;br /&gt; 
24.		Quantum Mutual Fund &lt;br /&gt; 
25.		Redwheel &lt;br /&gt; 
26.		T Rowe Price &lt;br /&gt; 
27.		Tata Mutual Fund &lt;br /&gt; 
28.		Tree Line Advisors &lt;br /&gt; 
29.		White Oak Capital Group &lt;br /&gt; 
30.		British Columbia Investment Management Corporation &lt;br /&gt; 
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