Consumer durables loans not for urban India

Though consumer durables are used by most urban households, most are purchased with lump sum.
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First Published: Thu, Jan 31 2013. 06 11 PM IST
Priyanka Parashar/Mint
Priyanka Parashar/Mint
The second series of the Indian Financial Scape survey, conducted by Delhi-based economics research firm Indicus Analytics, tracks patterns of debt usage of urban India. In its fifth week, we look at consumer durables loans and the pan-India average stands at a meagre 0.21%. Though various consumer durables are used by most of the urban households, it seems most are purchased with a lump sum. The data is split across income groups and regional variations. At least 35,000 households were surveyed across urban India over the period April-June 2012. In this case, all the regions show a similar pattern of usage. Region-wise, the northern and western regions jointly lead with 0.24% penetration, followed by eastern and southern regions with 0.17% and 0.16%, respectively. However, it can be noticed that as income rises, the usage increases too. In fact, the highest usage was found in the category of Rs. 1 crore and above across all regions.
Key takeaways:
1. The pan-India average is a meagre 0.21%.
2. The category of Rs. 1 crore and above uses the facility the most.
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First Published: Thu, Jan 31 2013. 06 11 PM IST
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