60 Percent Gig Workers Lack Credit Access as Per American Journal—India Responds
New Delhi [India], February 20: Gig work is increasing—think ride-share drivers, freelancers, and delivery folks powering the Indian economy. But a paper in the American Journal of Humanities and Social Sciences Research paints a tough picture: 60% of gig workers struggle to get formal credit, and 75% across three countries, including India, lack a traditional credit score. Old-school systems, built for steady salaries and long job histories, leave these workers out in the cold, even with reliable but irregular earnings. A World Bank report echoes this, noting gig folks need loans for bikes or business boosts but get sidelined by income volatility.
The Credit Challenges
Gig workers aren’t unemployed. They’re working—often multiple jobs across different platforms. But when they...