There has been a change in the lifestyle of Indians, they are spending a lot on weddings with the help of loans.

New Delhi : A report has revealed that there has been a huge change in the thinking of Indian customers. This report has revealed that Indian customers are taking loans extensively for smartphones and electronic appliances. The way of shopping has completely changed in the last 4 years. Now there has been a huge increase in the number of people taking loans to buy smartphones and electronic goods. There has been a sharp jump of 37 percent in this number.

There has been a huge change in the way of shopping since the Covid pandemic. According to this report, it has been revealed that while only 1 percent loan was taken for smartphones and home appliances in the year 2020, in 2024 this figure has increased by 36 percent and now this figure has reached 37 percent. Now, to change their lifestyle, people are taking loans and buying the things they need without thinking much about money. By taking loan, they are easily purchasing appliances like smartphone, TV, fridge and washing machine.

Loan for marriage not education

Not only this, now people are not holding back from preparing their dream house. Whereas in the year 2022, 9 percent people used to take money to renovate their house, now in the year 2024 this figure has increased to 15 percent. Also, now the number of people taking loans for marriage has increased by 5 percent, which used to be 3 percent earlier. Apart from this, there has been no change in the number of people taking education loans, it is at 4 percent like the previous figures. Apart from this, the number of people taking loans for medical emergencies has increased by 4 percent and this figure has now increased to 7 percent.

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Boom in online shopping and banking

To prepare this report, a survey has been conducted in 10 cities of the country, which also includes the top 7 metro cities. In this survey, about 2500 people aged between 18 to 55 years were asked for their opinion. The average income of these people was Rs 31,000 per month. This survey has revealed that customers are also using technology extensively. They are using the app for banking. Besides, this survey has also revealed that this is also the reason behind the huge increase in online shopping.