3 min read.Updated: 03 Nov 2021, 06:11 AM ISTYashwardhan Aeren
More than 60% of all personal loans recorded during Q4 2020 were under ₹25,000
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The past two years saw an increase in small-ticket loans due to various reasons. Job losses, salary cuts, medical emergencies, rent deposits, upskilling courses and similar reasons drove millennials to opt for such loans. A spike was also observed in short-term loans in cities due to crunched economic activities leading to financial distress.