'How India Borrows 2024’ – A Study by Home Credit India
Ranchi: Home Credit India, a local arm of the leading global consumer finance provider, has released the findings of its annual consumer study - How India Borrows - today. The sixth edition of the study reported a significant shift in borrowing patterns among the lower-middle-class consumers, transitioning from survival-driven borrowing to one fuelled by aspirations, entrepreneurship, and long-term investments. This transformation reflects India’s evolving socio-economic landscape, where consumers are increasingly focused on improving their quality of life, empowered by greater access to credit and the growth of digital platforms.
Bandhan Life and Bandhan Bank announce strategic partnership
Jamshedpur: Bandhan Life and Bandhan Bank announced a strategic partnership to distribute life insurance. The partnership was kicked off with the launch of two new products: iGuarantee Vishwas, a savings insurance plan with guaranteed returns, and iInvest II, a unit-linked insurance plan. Starting October 2024, these plans will be available at 181 Bandhan Bank branches across Bihar and Jharkhand. Existing customers of Bandhan Bank can get a policy in a matter of a few minutes, subject to fulfilment of the conditions for insurance. The product portfolio will expand further as new par product ‘Shubh Samriddhi’ and other savings products will be added in the coming weeks. A comprehensive range of products will be available nationwide by the end of 2024, thereby adding strength to Bandhan’s long standing vision of empowering Indians financially.
