IRCTC has a great surprise for travel lovers in the new year. If you are planning to travel abroad in the new year, then today’s article is just for you. The financial strain on individuals from middle and high-income brackets in the country is on the rise. Over the last three years, there has been a notable increase in the proportion of outstanding personal loans among those earning between 5 to 15 lakh and those making over 15 lakh annually. According to data from the Reserve Bank of India, the share of personal loans for these income groups has surged by approximately 11 percent. This indicates a growing number of borrowers, along with an increase in those struggling to make timely repayments. Interestingly, the largest segment of unsecured personal loans is held by individuals earning less than five lakh.
The financial stability report published by the RBI in December 2024 highlighted that the share of individuals with outstanding personal loans in the 5 to 15 lakh income range rose by 11 percent as of September 2024 over the past three years. In contrast, the share for those earning above 15 lakh saw a 9 percent increase.
Most unsecured personal loans are concentrated in this area
Conversely, the share of individuals earning up to five lakh has only grown by a modest 1 percent. This slow growth can be attributed to the fact that many unsecured personal loans are tied up with borrowers in this income category. Additionally, there has been a significant 20 percent drop in outstanding loans for individuals without a stable income.
Banks have implemented numerous precautions
The primary factor behind this trend is that banks have exercised caution in lending to individuals without a regular income over the past three years. Typically, these borrowers receive smaller loans for shorter durations. Following the RBI’s advice to be vigilant with such loans, banks have improved their recovery rates for small loans and have been more careful in approving new ones.
Sri Lanka is renowned for its stunning landscapes, rich history, and vibrant cultural heritage. Here’s an exciting and unforgettable 6-day itinerary.
January 22 – Kolkata to Colombo
The adventure kicks off at Netaji Subhas International Airport. On the first day, travelers will depart from Kolkata to Colombo. Upon arrival at Colombo Airport, the group will head to Negombo. After checking into the hotel, dinner will be served.
January 23 – Negombo to Kandy
The following day starts with breakfast in Negombo, followed by check-out. The itinerary includes visits to the Muneshwaram and Munavari temples. After lunch, a sightseeing tour of Kandy awaits. Guests will check in at the Kandy Hotel for an overnight stay.
January 24 – Kandy to Nuwara Eliya
On day three, after breakfast, the journey continues from Kandy to Nuwara Eliya. Along the way, lunch will be enjoyed while exploring the Spice Garden, Ramboda Waterfall, Hanuman Temple, and Tea Gardens. After arriving in Nuwara Eliya, the night will be spent at the hotel.
January 25 – Nuwara Eliya
Day four includes visits to Gayatri Peeth, Sita Amman Temple, Hakgala Garden (Ashok Vatika), and Divurampola Temple. The day will also feature an excursion to Lake Gregory, with a return to the hotel for the night.
January 26 – Nuwara Eliya to Colombo
On the fifth day, an early morning trip to Pannalal is planned, where the Pinna Wala show will take place. This will be followed by a tour of local attractions in Colombo, including Anjaneyar Hanuman Temple and Kelaniya Vibhishana Temple.
January 27 – Colombo to Kolkata
After breakfast, travelers will check out of the hotel and take a flight from Colombo International Airport back to Kolkata, concluding this memorable journey.
