India Unveiled | Banks replace friends and relatives as source for loans

India Unveiled | Banks replace friends and relatives as source for loans
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First Published: Tue, Jul 17 2007. 10 49 PM IST

Updated: Tue, Jul 17 2007. 10 49 PM IST
Banks are beginning to replace friends and relatives, until now the preferred source of small loans in India. This is evident across income groups, with people who earn more being less likely to ask family or friends for loans because they have better access to bank finance. This is one of the findings of the Invest India Incomes and Savings Survey 2007, produced by IIMS Dataworks.
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First Published: Tue, Jul 17 2007. 10 49 PM IST
More Topics: Money Matters | Personal Finance |