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Silent Debt: Why This Growing Burden Is Crushing Young People
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Silent Debt Crisis: Young Earners Drowning as Loans Outpace Income
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News18
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02-03-2026, 11:53
Silent Debt Crisis: Young Earners Drowning as Loans Outpace Income
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Unsecured personal loans, credit cards, and digital loans are driving a 'silent debt' crisis among young earners, especially Gen Z.
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India's household debt exceeds 41% of GDP, with unsecured retail loans growing faster than home loans.
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Easy access to digital loans, pre-approved credit cards, and 'Buy Now Pay Later' schemes contribute to rapid debt accumulation.
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Debt is growing faster than income; average personal loan increased by 23% in two years, while savings grew slower.
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Lack of financial literacy, increasing credit card overdues, and lifestyle spending are key dangers, impacting future financial stability.
Read Full Article on News18 in Hindi
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