A generational shift in consumption and debt5 min read 15 Jul 2018, 09:22 PM IST
Changing attitudes, low penetration, availability and data mining are immediate tailwinds, while better asset ownership records could be a medium-term driver
Recently, on my commute home, I saw two adjacent shops with large banners outside them. One said “Loan pe Phone" and the one next to it said “Phone pe Loan". The former was obviously selling mobile phones and was offering attractive loan options to make that purchase—while the latter was a direct sales agent of a financing company offering personal loans wherein it required just one phone call to get the loan pre-approved. These two shops seemed quite symbolic of what is happening to consumption and household debt in India.
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