The Silent Strain of EMI: How Debt Challenges Mental Health in India
India's ongoing struggle with mental health concerns now has a new dimension - the burden of EMIs and debt stress. As unsecured borrowing rises, anxiety linked to financial strain manifests through mental and physical health issues. Initiatives offering counseling aim to alleviate debt-linked anxiety and promote mental well-being.
- Country:
- India
Mumbai: The burden of Equated Monthly Installments (EMIs) is becoming a significant factor in India's mental health crisis. Scheduled payments and growing unsecured debt are leading to widespread anxiety, especially among the urban middle class.
Urban areas exhibit significantly higher mental disorders compared to rural regions, compounded by financial pressures. Economic stress acts as a catalyst for sleep disruption, impacting daily productivity, an issue acknowledged by India's recent Economic Survey.
In response, initiatives like Sounds of Silence provide crucial support by offering counseling services to navigate debt-related anxiety, integrating mental and financial health to help families cope with the dual challenges they face.
(With inputs from agencies.)
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