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Wedding loans constituted 33 per cent, highest amongst other purposes, during the second wave of the pandemic as compared to 22 per cent during the first wave, shows a study conducted by IndiaLends
A recent study by IndiaLends found that 85% of individuals who applied for loans of Rs 30,000 to Rs 2.50 lakh were for travel purposes by millennials. The study was conducted ahead of World Tourism Day on September 27 and covered both salaried and self-employed Indians across 6 major cities — Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai, and Kolkata. Out of the total loan applications received from this demographic group, also known as Generation Y, in the last one year, 19% were for travels across all the 6 metros; the maximum (20%) was received from Hyderabad, followed by Mumbai (19.7...