Millennials in India are shaping credit management trends

India's economic growth is increasingly linked to the financial habits of millennials. This group uses digital tools for credit borrowing, which affects their financial decisions. In doing so, they aim to spend wisely and practice responsible credit management. Millennials are a significant part of India's population and workforce. As they gain independence, their approach to credit changes. They are more inclined to adopt modern strategies while still balancing traditional financial practices. This shift is evident in how they manage credit and view debt. Credit scores, which range from 300 to 900, play a crucial role in determining loan opportunities for these young adults. A higher credit score indicates a lower risk for lenders, making it important for millennials to maintain good scores. Factors that contribute to credit scores include payment history, debt levels, and the types of credit used. To navigate the complex credit landscape, millennials are adopting new strategies. They use financial management tools to handle their money effectively. However, it is essential for them to remember that borrowing can come with high interest rates and fees, potentially leading to debt issues. Overall, the blend of conservative financial practices and modern credit behaviors is reshaping how Indian millennials manage their finances.