Amidst fears of rising job uncertainty, it was reported that a majority of Indian executives are getting careful about taking bank loans. The trend is noticed even among young executives, and this trend is affecting the banking sector negatively. The decline in revenue owing this trend is around 6.6 percent, a opposed to a growth of 8.8 percent last year.
The main reason cited for the slowdown in borrowing among Indian executives is the rising volatility of the job market, and the uncertainty over jobs.
Read the Economic Times news report here.