Instant Gratification: Rein In Your Desires

The gap between desiring something and purchasing it has never been shorter than it is today.

- Ayush Khar

Amid the rising popularity of quick commerce apps and quick payment methods like Unified Payments Interface (UPI), instant deliveries are slowly becoming the norm. Whether it is the craving for the cool tang of a soft drink on a hot day or the allure of skipping the hustle-bustle of the vegetable market, we want it now.

Add to the mix, credit cards and Buy Now Pay Later (BNPL) schemes and you can purchase what you desire without even having the funds to do so. However, instant deliveries often accompany the not-so-instant guilt when the bills for these impulse purchases start coming in.

Data released by the Reserve Bank of India (RBI) for the 12-month period ending December 2024 shows that the amount defaulted on in the credit card segment by customers stood at ₹6,742 crore, a 28.42 per cent rise year-on-year (yo-y).