Silent Debt Crisis: Young Earners Drowning as Loans Outpace Income

• Unsecured personal loans, credit cards, and digital loans are driving a 'silent debt' crisis among young earners, especially Gen Z.
• India's household debt exceeds 41% of GDP, with unsecured retail loans growing faster than home loans.
• Easy access to digital loans, pre-approved credit cards, and 'Buy Now Pay Later' schemes contribute to rapid debt accumulation.
• Debt is growing faster than income; average personal loan increased by 23% in two years, while savings grew slower.
• Lack of financial literacy, increasing credit card overdues, and lifestyle spending are key dangers, impacting future financial stability.