From bikes to durables, young, first-time borrowers are driving up India's personal loan market

65% of borrowers sought for loans for the first time while 35% of them bought consumer durables such as refrigerators or washing machines on credit. Average ticket size of personal loans diminished by 40% between FY17 and FY21 from RS. 2.4 lakh to Rs 1.5 lakh.

from Banking/Finance-Industry-Economic Times https://ift.tt/3DIkJk7