Gen Z now accounts for 41% of new borrowers: Report
Gen Z, aged between 18 and 30, now accounts for 41% of new borrowers in India, according to Sachin Jain, Managing Partner at Scripbox.
More young people are using credit for things like gadgets and travel, but this trend is also leading to more "silent debt": unsecured loans that can quietly pile up and become tough to repay.
How to manage your debt
Silent debt's main sources include credit cards, Buy Now, Pay Later (BNPL), digital micro-loans, and lifestyle EMIs.
With over 11 crore active credit cards and digital credit hitting ₹97,000 crore in just six months, experts warn this could make it harder for young people to get future loans.
To stay on track, they suggest paying off high-interest debts first, sticking to a budget, limiting new borrowing, and checking your credit report regularly.