Bijay Mahapatra, 19, took their very very very first loan from the firm that is fintech 2017. It had been a small-ticket loan of 500 in which he needed to settle 550 the month that is next. It absolutely was fascination with a brand new software since well because the notion of credit it self. The thought of cash away from nowhere which could be reimbursed later on will be alluring for almost any teenager.
Mahapatra inevitably got hooked. 8 weeks later on, as he didnвЂ™t have money that is enough a film outing with buddies, several taps regarding the phone is perhaps all it took for him to have a 1,000 loan.Read More »Millennial lives and also the new-age financial obligation trap