According to a survey conducted by Home Credit India, nearly half of the population i.e. 46% had borrowed money to run their households during the pandemic.
The people were affected either due to job losses or pay cuts across all the different industries.
The COVID-19 financial crisis has forced these people to ask for help from moneylenders or more financially sound people in their families.
The survey was carried over 1000 people. Around 27% of the population borrowed money to pay their monthly installments.