New Delhi, Nov. 28 -- Borrowing behaviour of India's lower-middle class, a segment representing nearly two-thirds of the population, has undergone a significant shift, a report by Home Credit India, titled 'How India Borrows 7.0', revealed.

This year's study shows a marked transformation in borrowing behaviour and attitudes among this segment - from credit as a safety net for necessity to a catalyst for aspiration and self-reliance. Credit typically includes credit cards and personal loans.

Credit is increasingly being used to elevate living standards, invest in entrepreneurial ventures, and achieve long-term financial goals, reflecting their strategic and forward-looking mindset, according to the report.

The study provides in-depth in...