Subject category:
Finance, Accounting and Control
Published by:
Amity Research Centers
Length: 6 pages
Data source: Published sources
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Abstract
People in India had the option of purchasing big-ticket items like phones, apartments, and other expensive things through the 'buy now, pay later' method. Weddings in India were usually grand events that required a significant financial investment. To make things easier for young couples who wanted to get married without spending all their savings on wedding costs, a new alternative had emerged, 'Marry Now, Pay Later' (MNPL). It offered unsecured loans falling under the broader category of personal loans. With flexible repayment options, MNPL loans made weddings more affordable and accessible. However, financial experts warned that taking on debt for a wedding could strain newlyweds' finances, causing stress and strain in the early days of marriage. Couples had to be aware of the financial burden they could face if they went into debt to pay for their wedding. On top of regular expenses like rent, bills, and student loans, they would also have to make monthly payments to pay off the debt, which could add up quickly and impact their financial future. Given both pros and cons, what cautions do young marriage enthusiasts keep in mind while availing MNPL loans?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Time period
The events covered by this case took place in 2024.Geographical setting
Region:
Asia
Country:
India
About
Abstract
People in India had the option of purchasing big-ticket items like phones, apartments, and other expensive things through the 'buy now, pay later' method. Weddings in India were usually grand events that required a significant financial investment. To make things easier for young couples who wanted to get married without spending all their savings on wedding costs, a new alternative had emerged, 'Marry Now, Pay Later' (MNPL). It offered unsecured loans falling under the broader category of personal loans. With flexible repayment options, MNPL loans made weddings more affordable and accessible. However, financial experts warned that taking on debt for a wedding could strain newlyweds' finances, causing stress and strain in the early days of marriage. Couples had to be aware of the financial burden they could face if they went into debt to pay for their wedding. On top of regular expenses like rent, bills, and student loans, they would also have to make monthly payments to pay off the debt, which could add up quickly and impact their financial future. Given both pros and cons, what cautions do young marriage enthusiasts keep in mind while availing MNPL loans?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Time period
The events covered by this case took place in 2024.Geographical setting
Region:
Asia
Country:
India