How India’s middle-class debt crisis is threatening growth

How India’s middle-class debt crisis is threatening growth

A rise in unsecured credit among a consumer group that symbolises the country’s investment potential is hurting its economic ambitions

Nearly one-third of India's online payments in 2024 based on debt

Almost one-third (30%) of all digital transactions in India in 2024 were based on debt, a recent report by digital payments company Phi Commerce revealed. The company prepared the report on India’s payment preferences, titled ‘How India Pays’, by analysing transactional data from 20,000 merchants in various sectors. This comes as India apparently grapples with the problem of surging household debt.  Findings of the report: According to the repor…