Mit Magzter GOLD unbegrenztes Potenzial nutzen
Erhalten Sie unbegrenzten Zugriff auf über 9.000 Zeitschriften, Zeitungen und Premium-Artikel für nur
Versuchen GOLD - Frei
DIDEROT'S CURSE AND BNPL TRAP: A DEBT CRISIS LOOMS
Mint Mumbai
|June 09, 2025
Small personal loans (₹50,000 or less), defaults have surged among those in their 20s
In 1769, French philosopher Denis Diderot received a luxurious scarlet dressing gown. At first, it delighted him. But then he noticed that everything around it—his old chair, desk, and rug—seemed shabby in comparison. One by one, he replaced them until he was mired in debt. This story, known as the Diderot Effect, remains a parable for how one act of consumption can trigger a cascade of financial decisions, often with ruinous outcomes.
Fast forward to modern India, where a digital version of this effect is taking shape. This time, it's not scarlet robes but smartphones, kitchen renovations, weekend getaways, and online shopping sprees—all made seemingly affordable by Buy Now, Pay Later (BNPL) apps and instant small loans. Yet, behind the glitter of financial empowerment lies a troubling spiral of overleveraging, especially for India's burgeoning middle class.
Diese Geschichte stammt aus der June 09, 2025-Ausgabe von Mint Mumbai.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON Mint Mumbai
Mint Mumbai
These firms will sell shovels during semaglutide gold rush
Weight-loss drug semaglutide, also used to treat type-2 diabetes, will face its next big turning point in early 2026, when patents held by Novo Nordisk expire in India.
1 mins
November 27, 2025
Mint Mumbai
'First-gen founders take bigger investment risks'
India’s markets are minting a new class of first-generation millionaires: entrepreneurs who’ve scaled ideas into Initial public offerings (IPOs) and unlocked unprecedented personal wealth.
2 mins
November 27, 2025
Mint Mumbai
EV, hydro boom to power 6x rise in battery storage by ‘47
India is preparing to meet a projected cumulative battery energy storage capacity of nearly 3 terawatt-hours (TWh) by 2047 across electric mobility, power, and electronic components, according to two people aware of the development, with electric vehicles (EVs) expected to contribute a third of the demand.
2 mins
November 27, 2025
Mint Mumbai
Candidates using AI? No, thanks, say IIT recruiters
As the annual placement season dawns at the Indian Institutes of Technology (IITs), colleges and recruiters are working to bar artificial intelligence (AI) tools and prevent cheating at test venues, a concern that first rose last year.
3 mins
November 27, 2025
Mint Mumbai
Taxpayer base soars, but return filings lag sharply: CBDT data
India’s income tax base is growing faster than the number of those conscientiously filing returns, driven by the expanding reach of the tax deducted at source (TDS) system, according to latest data from the central board of direct taxes (CBDT).
3 mins
November 27, 2025
Mint Mumbai
Market nears peak on dollar tailwind
Stocks jump 1.2%, but futures rollovers signal weak conviction
3 mins
November 27, 2025
Mint Mumbai
SP Eyes Tata exit to cut debt costs
Debt-laden Shapoorji Pallonji Group is banking on Tata Trusts softening the stance on its potential exit from Tata Sons to reduce its borrowing costs, two people aware of the matter said.
2 mins
November 27, 2025
Mint Mumbai
MO Alternates launches its maiden private credit fund
The %3,000 crore fund has drawn capital from family offices, ultra-HNIs and institutions
3 mins
November 27, 2025
Mint Mumbai
HP to cut jobs after profit outlook miss
HP Inc.gave a profit outlook for current year that fell short of estimates and the company said it will cut 4,000 to 6,000 employees through fiscal 2028 by using more AI tools
1 mins
November 27, 2025
Mint Mumbai
Apple set to regain top smartphone maker spot after 14 yrs
Apple Inc.will retake its crown as the world’s largest smartphone maker for the first time in more than a decade, lifted by the successful debut of a new iPhone series and a rush of consumers upgrading devices, according to Counterpoint Research.
1 min
November 27, 2025
Listen
Translate
Change font size