1 in 4 personal loans in India is taken for a holiday:S. Mukherjea

Social media has "industrialised aspiration", author Saurabh Mukherjea said on the podcast, with 25-27% of personal loans funding holidays and youngsters borrowing ₹15,000 for Coldplay concerts. "Earlier your aspiration matched your earnings. That link is broken," he noted. Everyone wants the jet-set lifestyle regardless of income, because banks are happy to lend.