MAM
Post-lockdown perceptions, aspirations and anticipations of Indian millennials
MUMBAI: The current lockdown is a dark phase, something that the world has not witnessed in decades. But there is always a silver lining in any adverse situation. Laqshya Media Group has found a bit of that silver lining by conducting a research study to help marketeers figure out the perceptions, aspirations and anticipations of the Indian Millennial via-a-vis the ‘New Normal’ that the world faces today.
An online study was conducted reaching 1104 respondents across the primary cities in India. The target group belonged to the age group between 18 and 39, across genders and representing both NCCS A andB. Summarising all the reports and survey results has helped Laqshya assess the perceptions, aspirations and anticipations of the Indian millennials. The good news is that not only are the IMF and the RBI confident of India bouncing back – so are the Indian Millennials. A few findings of the report are excerpted below.
The research talks about customer behavior as per two primary age groups 18-25 and 26-39. Analysis shows that each cohort responded differently to some of the questions posed to them, while they were statistically similar in response to others. For example, one of the questions was whether people will wait to visit malls, restaurants or any public places right after the lockdown is lifted. 75 per cent of the entire respondent base responded that they will be back within four to five weeks. The younger people, 18-25, shared that they will hit the malls in an average of 23 days while the 25-39 cohort’s average wait time was 29 days!
But 31 per cent of the targeted group is more likely to use personal travel more frequently as compared to earlier. A sneak peak of this data can be seen in the pie chart given below that shows the time people will wait to go out post the lockdown.
It is interesting to realise that people have different mindsets towards outings, investing and traveling. Similar to the aforementioned question, a series of questions were asked to the people from different ages, genders, backgrounds and professions. Majority of people responded that they want to meet friends and family after the lockdown. It was noted that younger people and women had a major inclination towards eating out.
The millennials are optimistically cautious especially in investing money or procuring assets. 53 per cent of the respondents want to invest in fixed deposits, but more than 40 per cent of them continue to have faith in mutual funds, and more than a quarter anticipate investing in the stock market. The millennials also want to invest more in education and development of their skills, which will surely give a boost to the education sector.
In the advertising world, print and outdoor media have taken a major hit as people during the lockdown had little option but to move to digital news portals and OTT platforms. Most of the population is binge watching on all the major OTT platforms. Video calling apps have also gained great popularity thanks to official meetings and social hangouts being restricted to our laptop/mobile screen. Will these trends stay after the lockdown ends? On that note, 36 per cent of the respondents said that their online shopping will increase, and whopping 86 per cent say that they will notice OOH advertising as much or more than they did before!
References from the reports by The Reserve Bank of India, The International Monetary Fund and McKinsey and Company were also taken into account while making the report.
Laqshya Media Group CEO Atul Shrivastava believes that people in India are committed to fight and win over the current situation. He said, “There is a huge consumption of every product in India and there will be eagerness amongst the brands to become the first choice for every consumer. This is likely to fuel the demand for the advertising sooner than most nay-sayers predict.”
Laqshya Media Group MD Alok Jalan is positive of the way ahead, “Although some industries have taken a major hit, others like the e-commerce businesses have a lot of scope ahead. This is also a good opportunity for the traditional businesses to evolve their digital presence. If we are able to contain the pandemic shortly then there is a scope for the market to bounce back and show growth.”
Follow Tellychakkar for the consumer facing news & entertainment
When applying for a loan, many borrowers focus on interest rates and credit scores. While these matter, lenders also rely on another key measure to judge whether a borrower can realistically manage repayments. This measure is FOIR, or Fixed Obligation to Income Ratio. It plays a central role in determining both loan approval and EMI comfort.
Understanding FOIR helps borrowers plan better and avoid taking on repayment commitments that stretch finances too thin.
What FOIR Means in Simple Terms
FOIR measures how much of a borrower’s monthly income is already committed to fixed obligations. These obligations include existing loan EMIs, credit card dues, and other long-term repayment commitments.
The ratio is calculated by dividing total monthly obligations by monthly income. The higher the ratio, the less room there is for an additional EMI.
Lenders use FOIR to answer a practical question. After meeting existing commitments, does the borrower have enough income left to service a new personal loan comfortably?
Why Lenders Rely on FOIR
FOIR helps lenders assess repayment capacity in real terms. Credit scores show past behaviour, but FOIR focuses on present and future affordability.
Even borrowers with strong credit histories may face rejection if their FOIR is already high. From a lender’s perspective, a borrower with limited disposable income is more vulnerable to missed payments during emergencies or income disruptions.
By using FOIR, lenders aim to reduce default risk while ensuring borrowers are not overburdened with EMIs.
For borrowers who meet criteria such as a stable monthly income and a CIBIL score of 710 or above, FIRSTmoney Personal Loan by IDFC FIRST Bank provides a 100% digital loan up to ₹15 lakh in as little as 10 minutes for an approved loan offer.
Typical FOIR Expectations in India
There is no single fixed FOIR threshold across all lenders, but certain ranges are commonly used.
In many cases, a FOIR of up to 40 or 50 per cent is considered manageable for salaried individuals. Higher-income borrowers may be allowed slightly higher ratios due to stronger financial buffers.
For self-employed applicants, lenders may be more conservative, given income variability. These ranges directly influence whether a personal loan is approved and at what EMI level.
FOIR and EMI Affordability
FOIR does not just affect approval. It also influences how much EMI a lender is willing to sanction.
If existing obligations already consume a large part of income, lenders may approve a smaller loan amount or suggest a longer tenure to keep EMIs lower. This ensures the total obligation stays within acceptable FOIR limits.
Maintaining control over the borrowed amount can also help in managing these ratios. FIRSTmoney Personal Loan allows for multiple on-demand withdrawals from an approved loan offer of ₹50,000 to ₹15 Lakh, where interest is only charged on the amount withdrawn.
Borrowers can use a personal loan calculator to see how changing the loan amount or tenure affects EMI levels and overall affordability before applying.
How FOIR Impacts First-Time Borrowers
First-time borrowers often underestimate how existing commitments affect eligibility. Credit card dues, even if paid regularly, are included in FOIR calculations.
This can come as a surprise when approval amounts are lower than expected. Understanding FOIR early helps set realistic expectations and prevents unnecessary applications that could affect credit health.
Using a personal loan calculator alongside a review of current obligations gives a clearer picture of what is affordable.
Improving FOIR Before Applying
FOIR is not fixed. Borrowers can take steps to improve it before applying for a loan.
Reducing existing EMIs by closing small loans or paying down credit card balances can lower FOIR. Choosing longer tenures for current loans may also reduce monthly obligations, though this increases overall interest cost.
Choosing a loan that features zero foreclosure charges helps borrowers clear their debt whenever they have excess liquidity. For example, FIRSTmoney Personal Loan allows users to close their loan at any time via the app without penalty, making it easier to manage total fixed obligations.
Stable income growth improves FOIR naturally, as higher income reduces the ratio even if obligations remain the same.
FOIR Versus Loan Eligibility Tools
Many online tools show loan eligibility based on income and credit score. However, these tools often give optimistic estimates.
FOIR acts as a reality check during the final assessment. This is why borrowers may see differences between initial eligibility results and final approval terms.
Using a personal loan calculator with conservative assumptions helps align expectations with actual lending outcomes.
Conclusion
FOIR plays a critical role in personal loan approval and EMI affordability by linking borrowing decisions to real income capacity. It helps lenders assess risk and ensures borrowers are not stretched beyond comfort. By understanding how FOIR works and using tools like a personal loan calculator to plan EMIs realistically, borrowers can approach lending decisions with greater confidence. With structured assessment frameworks and transparent processes, FIRSTmoney Personal Loan by IDFC FIRST Bank continues to support responsible lending, offering instant loan disbursal up to ₹15 lakh within 10 minutes.
