India’s middle class is ‘borrowing to survive’: Marcellus Saurabh Mukherjea sounds the alarm

In a recent podcast, Marcellus Investment Managers’ Saurabh Mukherjea highlighted that millions of middle-class Indians are drowning in debt, with soaring personal loans and credit card debt. Data from the RBI’s Financial Stability Review reveals that 45% of borrowers are subprime, with 48% of their debt used for consumption. Mukherjea estimates that 5-10% of middle-class Indians are in a debt trap, urging those struggling to seek financial counseling to prevent the issue from worsening.

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