- 20 May, 2023
In ancient times, when people’s debts reached unmanageable levels and there was a danger of societal unrest, the king would forgive all debts and allow people to start afresh. Such amnesty schemes do not come easy in modern societies. And that is a problem in today’s world where high household debts can destabilise the economy.In fact, according to the Reserve Bank of India (RBI), the credit card outstanding rose by 29.6% to Rs 1.87 trillion