63% Young Indians Say Credit Strengthens Financial Health: mPokket Survey

India's youth are transforming the way in which the country looks at borrowing. A survey conducted by online lending platform mPokket recently found that 63 per cent of Indian youth believe credit has contributed to their economic well-being. The study, based on the responses of 3,000 young individuals, shows that borrowing is now more linked to progress and individual growth than to dependency.

For most young earners, credit provides access to opportunities. Almost 21.1 per cent use it for professional improvement or up-skilling, 16.5 per cent for studying, and 9.6 per cent for funding small businesses or side hustles. This is a shift where borrowing is regarded as investing in the future.

Financial Maturity

The survey shows a growing sense of responsibility among young borrowers. They offer their first credit experience towards empowerment, relief, and responsibility by more than half.

Approximately 56 per cent believed that taking credit made them more cautious on expense monitoring and budget management. Another 32 per cent have started building or creating a credit history for future financial security. This suggests that financial discipline is becoming second nature for young Indians when managing money.

Most of the respondents are below the age of 30 and think of credit as a way of possibly getting control over finances and not falling in debt. Credit is no longer thought of as risky but an experience for enrichment in financial behaviour.

Aspiration and Caution

Whereas the majority are using credit for growth, others continue to use it for emergencies. Around 33 per cent reported that they borrow to cover medical expenses or house repairs, while 26.3 per cent use it for medical treatment. Still, nearly 40 per cent are using credit for purposes such as education, career growth, and lifestyle improvement.

Credit and Entrepreneurship

Almost 10 per cent of the surveyed answered that they use credit to fund freelancing, creative projects, or small business. New digital financial platforms are making this possible through the ease and transparency with which they offer access to money. Borrowing is becoming a way of turning ideas into reality and taking that first step towards independence for the majority.

Credit for young Indians is not risk, but opportunity. Combined with awareness and self-discipline, it is boosting confidence, self-reliance, and financial progress among them.