Not EMIs, but FOMO is hurting Indian savings, says expert
Last Update Date: 06-10-2026
Published by India Today
Abhishek Kumar's role: Quoted
Abhishek Kumar, in a LinkedIn post the article cites, said fear of missing out, not EMIs, is what stops people saving. He described a loan that buys an asset, builds skills or raises income as a useful tool, and one taken only to keep up with others as a trap.
More of Abhishek's views on debt and loans
India Today looks at why many Indians struggle to save, arguing that buying to keep up with others matters more than EMIs themselves. It notes the sharp rise in personal and consumer durable loans, much of it for lifestyle upgrades, and contrasts borrowing for assets or skills with borrowing driven by social comparison.
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Not EMIs, but FOMO is hurting Indian savings, says expert