New Delhi, Nov. 4 -- Household debt of an average Indian household has grown faster than the growth of financial assets since the pandemic, a recent RBI study has revealed. While average assets have grown by 48 percent between 2019-2025, debt has increased by 102% during this time, the study shows.

Given all this, keeping a check on excessive borrowing, i.e, personal loan, becomes all the more important.

Here we list out the key points before you decide to borrow.

I. Absolutely essential: At the outset, you must see if the loan is absolutely essential or not. There could be several reasons for raising a loan, but mandatory reasons are those which can not be deferred or cancelled. For instance, a loan for a house is sort of mandatory, b...