But millennials seem to want it all with their own money. They overtook older generations of Indians in the number of these personal loan applications, which ranged between Rs2 lakh and Rs30 lakh. “This self-made and self-aware generation believes in managing their own finances and don’t want to burden their family or friends to fulfil their dreams and desires,” said Gaurav Chopra, CEO and founder, IndiaLends.

This generation of Indians also seems to be striving for some sense of gender parity in footing the enormous wedding bills.

Weddings are for everyone

Compared to 2018, metropolitan cities like Delhi, Mumbai, and Bengaluru, saw a 46% increase in personal loans for weddings in 2019.

There was an 18% increase year-on-year in India’s smaller towns.

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