consumer durables

Mr Gupta also found that while borrowing for consumption - credit cards, consumer durables, weddings, health emergencies, for example - makes up less than 20% of total household debt, it was the fastest-growing segment.

Besides cash loans, the company offers installment loans to buy motorbikes and consumer durables.

They are especially seeking consumer durables, spare parts for the transport sector, medical devices, construction materials for large infrastructure projects, and frozen food ahead of the winter season, the official said.

The consumer durables sector notched one of the market’s few gains, up more than 6%, as buyers hoard supplies.

Spending on consumer durables that are sensitive to interest rates, including cars, rose by an annualized rate of 7.6% in the third quarter, according to a report from Morgan Stanley.