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Financial decision-maker sentiment: India

An ongoing look at how the attitudes of financial decision makers in India are evolving during the COVID-19 pandemic.

Most consumers in India view the current economy as neutral or weak, though over 40 percent expect it to be stronger in the next three months. Over half are concerned about their job security and have eight months or fewer of savings to live off. Over 40 percent feel their bank is exceeding their expectations with only 19 percent feeling performance is below expectations. The greatest unmet needs from banks during this period of economic uncertainty is allowing skipped loan payments and increasing ease for securing a line of credit. Consumers have an optimistic outlook on a financial recovery, with almost 60 percent thinking the economy will rebound within 2-3 months and grow just as strong as before COVID-19.

About the author(s)

John Euart is an associate in McKinsey’s New York office, David Hutchinson is a specialist in the New Jersey office, Sameer Kumar is a partner in the Kuala Lumpur office, and Aditya Sharma is a partner in the Bengaluru office.

The authors would like to thank Manya Jain for her contributions to this article.

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