The number of Gen Z borrowers (born after 1996) tracking their credit scores has surged by 150 per cent in FY23-24, signalling a growing sense of credit discipline among the younger population.
TransUnion Cibil reports a 57 per cent rise in consumers monitoring their credit in non-metro regions, compared to a 33 per cent increase in metro areas.
The rising trend of BNPL and EMI options has given consumers easy access to credit for purchases,” V Balasubramanian, CEO of Financial Software and Systems, told The Economic Times.“This is typical of economies transitioning from savings-driven to consumption-driven.
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