A surge of app lending is pushing Indians into a debt trap as they borrow more to repay old loans

Source: Livemint· mint· August 7, 2026
A surge of app lending is pushing Indians into a debt trap as they borrow more to repay old loans

Loans at an annual rate of 36%? It gets even more usurious in some cases as repayments devour the earnings of those who get tempted by easy app credit to fund consumption and repay loans. This market is a house of cards in need of intervention.

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