Rising debt highlights financial strain

Kerala, despite its progress in various sectors, faces a significant challenge with mounting personal debt, with the state ranking third in India for personal financial liabilities. Around 29.9% of households in the state are reportedly carrying some form of debt, a worrying statistic given the broader economic landscape.

- HD Bureau

The rising financial burden is being driven by an increase in loans across key sectors, particularly home loans, vehicle loans, and education loans. Over the past five years, home and vehicle loans in Kerala have seen a dramatic surge, with both types of loans doubling in number.