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India s millennials spending more responsibly; borrowed most for home repair, medical emergencies ANI | Updated: Feb 17, 2021 13:02 IST New Delhi [India], February 17 (ANI/PRNewswire): The spending patterns of millennials are shifting. The millennial generation, known for borrowing for their lifestyle needs and spending recklessly, is now taking a personal loan to tend to more serious priorities. According to new data from SimplyCash, the instant loan app powered by the Hero Group, spending on travel and other expensive purchases have now taken a backseat, with millennials spending more on home improvement and health. Who are millennials? Millennials, also known as Gen Y, are defined as adults aged between 22 and 38 years as of 2019. As per Morgan Stanley Research, there are 400 million of them in India, accounting for one third of the country s population and 46 per cent of the workforce. With the youngest millennial turning 24 this year,

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