Millennial lives while the debt trap that is new-age

Bijay Mahapatra, 19, took their very first loan from the firm that is fintech 2017. It had been a small-ticket loan of 500 in which he had to settle 550 the month that is next. It absolutely was fascination with a brand new application since well since the notion of credit it self. The thought of cash away from nowhere which could be reimbursed later on will be alluring for just about any teenager.

Mahapatra inevitably got hooked. 2 months later on, as he didn’t have sufficient money for a film outing with buddies, a couple of taps regarding the phone is all it took for him to obtain a 1,000 loan. 続きを読む