The concept of buying by cash seems to be an age old tradition with today’s consumer becoming more comfortable in buying on credit. As far as gratitude is concerned, now borrowing is no longer scrutinized as some thing negative or bad, all credit for this credit habit of ours goes to changing outlook of our society.



Today almost everybody is running to bank for loans and banks today are giving an overwhelming response to loan seekers. ‘Buy now Pay later’ seems to be becoming mantra of today’s young generation. If you need anything from you day to day needs to luxuries just walk down to any closest bank. The domestic housing loan market and the auto loan market have acquired a year-on-year growth of 35 to 40 per cent. On the other hand, the unsecured personal loan market has grown by 50 per cent as well.



This trend of credit shopping seems to be good, when you are buying but problem arises when you have to pay back. I think the real problem that is arising right now at a lower level is gradual increase in credit defaulters but it seems that this credit trend will entrap India soon with credit defaulter’s syndrome. All I can say is that prime need is for seeking a balance between credit and paying back and credit management will prove as a key to survive in this credit influenced world.



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