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