Health India Burma reports 2020 Health India Burma

Millennials borrowed for health and credit refinancing in 2020: Survey

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Also Read | India’s tricky options in the Myanmar muddle"A year back, millennials were more skewed towards consumer durable purchases," stated the report' Millennial Loan-o-Nomics', which analysed an active pool of over 4 lakh loan applications.As the new situation emerged due to the pandemic, millennials' borrowing behaviour changed compared to earlier years.

As many lost jobs or employers cut their salaries, 16% of millennials availed loans for credit refinancing.Those between 30 and 40 years accounted for about 51% of the loans taken.

Most borrowers (41%) in 2020 were those earning between ₹10,000 and Rs-25,000. A year earlier, those with income between ₹25,000 and ₹50,000 took most loans.Loan demand was highest, at 81%, from millennials.

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