The following are the top 7 reasons why CIBIL defaults seriously in India by millennials aThnd job freshers:
- Lack of financial education: Many millennials and job freshers in India lack financial education, which leads to poor financial decision-making and a higher likelihood of defaulting on loans.
- High levels of student loan debt: Many millennials and job freshers in India have taken on high levels of student loan debt, which can make it difficult for them to repay other loans.
- Difficulty finding stable employment: Many millennials and job freshers in India are struggling to find stable employment, which can make it difficult for them to repay loans.
- High cost of living: The cost of living in India is high, which can make it difficult for millennials and job freshers to make ends meet and repay loans.
- Lack of credit history: Many millennials and job freshers in India have no credit history, which makes it difficult for them to obtain loans.
- Lack of access to credit: Many millennials and job freshers in India have difficulty accessing credit, which can make it difficult for them to repay loans.
- High levels of stress: Many millennials and job freshers in India are under a lot of stress, which can make it difficult for them to make sound financial decisions and repay loans.