Millennials Debt – The New Working Capital: The need for capital is the need of the hour; from growth to survival, money has become a vital non-natural resource stock market courses. From an individuals’ need for basic necessities to running a business, the one-stop solution is capital. So what solves this need of capital? Either earn or borrow. Yes, ‘Debt’ is the easiest and the quickest way to fulfill the demand for money that exists in the economy.
The demand for money is a never-ending phenomenon and its mismanagement has been the root cause of some major financial debacles in history. Like the Bank’s NPA crisis, where hefty loans were distributed without measuring the exposure to the risk in a systematic way which made them bad loans leading to default in repayment stock market courses. The NPA crisis in India started with NBFC’s, which was followed by the liquidity crisis, damping the economic growth of the country.
The current scenario of ‘Debt’ among Millennials | stock market courses
Of the total population in India, Millennials account for almost 35%. As per a recent survey by CIBIL, it was found that, of the total loans sanctioned in India in the year 2018, around 39% of the loans were sanctioned to the Millennials group and these are increasing by every passing year.
As per CIBIL’s study, almost 72% of loans are for credit cards,stock market courses personal loans, and consumer durables, and these come under the category of unsecured loans. While secured loans for two-wheeler and auto loans contribute 9% of the total loans.
Education is every individual’s right. But this basic right costs too much stock market courses. Higher education standards have substantially risen due to more and more private universities entering. The industry with better quality and demanding a hefty fee against it.
Further studying abroad has become a new trend among the youth and hence calls for money demand. The education industry doesn’t just stop at institutes but also includes coaching classes, which prepare the students for competitive exams. The importance of education can never be debated and hence no matter what. One will always look forward towards fulfilling this need. This adds to the need for an education loan.
