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Indians are borrowing for SUVs instead of homes. Lure of bigger cars, lower EMIs fuelling it.
As per the RBI data, more people are borrowing money to buy SUVs than houses. Vehicle loans have increased by 137% in three years as against a 47% rise in home loans, which have seen a decline in share from 52% pre-pandemic. Analysts believe the trend may continue due to the ticket size and aspirations of Indians.
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