Latest news with #PeepalCo
Mint
22-05-2025
- Business
- Mint
‘Biggest scam?' Bengaluru CEO's grim outlook on middle-class salaries sparks debate
Are middle-class salaries the 'biggest scam' that nobody talks about? That's the question that a Bengaluru-based entrepreneur has come up with—and it's hitting home for a lot of folks online. In a candid LinkedIn post, Ashish Singhal, the Group CEO of fintech firm PeepalCo, didn't mince words. He called out what he described as 'the biggest scam no one talks about': the slow, silent squeeze on India's middle class. 'This isn't a collapse. It's a well-dressed decline,' he wrote, arguing that the illusion of financial stability is being stitched together with EMIs, credit card debt, and dreams downsized to fit tighter budgets. Citing numbers to substantiate his claim, Ashish Singhal stated that over the past 10 years, the group earning under ₹ 5 lakh saw a 4 per cent compound annual growth rate (CAGR), while the ₹ 5 lakh – ₹ 1 crore income group has seen just 0.4 per cent CAGR. And yet, on the surface, everything looks fine, opined the Bengaluru CEO. People are still taking that one vacation a year. Phones are getting smarter. EMIs are being paid. But a peek behind the scenes reveals delayed doctor visits, medical check-ups, delayed home repairs, and savings that barely exist, said Singhal. A Bengaluru CEO's take on middle-class salaries. 'But you're also skipping the savings. Delaying the doctor visit. Doing the mental math in every Zomato checkout,' wrote the CEO. Concluding his post, the CEO asked his followers if they think "it's just an income issue, or even a money management issue?" "Good one. But, as CEO, what was the pay rise you gave to your employees vis-a-vis yours? That should be interesting to know," one user commented on the post. 'Crying on any platform won't make any difference. India was moving on like this and will continue like this. Nothing's gonna change here. Even after so much tax, there is nothing in return. Whoever can and gets the opportunity, just leaves the country, that's it. But again, salary alone can't make anyone wealthy anywhere in the world,' said another. Several other users supported the CEO and appreciated him for highlighting the matter.
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Business Standard
22-05-2025
- Health
- Business Standard
Mental health insurance in India seems fine, until you read the fine print
India will have 60-70 million people living with mental illness over the years — a number comparable to France's population, said Ashish Singhal, group chief executive officer of PeepalCo, a canopy housing a collection of brands serving India with tailored wealth-tech products. Online searches for mental health insurance increased 41 per cent last year as reported by but actual coverage leaves much to be desired. Singhal outlined typical insurance terms for mental health: Mental illness coverage is now mandatory for all insurers Every health insurance policy 'includes' mental health However, he says the ground reality is different: Coverage only if a person is hospitalised In Singhal's words, 'the system is designed to fail.' Unlike physical health issues, where hospitalisation, medicines, and consultations are all covered, mental health treatment is only supported in extreme cases. Most policies require the patient to be hospitalised before any meaningful coverage kicks in, a condition that doesn't reflect mental health care in real life. Singhal says that less than 1 per cent of all health insurance claims in India are for mental health treatment. 'Someone needs to work on preventive-first insurance claims rather than emergency-first ones.' A call for real change While states like Karnataka are showing the highest interest in mental health insurance (based on Google search trends), Singhal believes this is a beginning. His message is clear: if we truly want to make mental health a priority, the insurance ecosystem needs to catch up, not just with intent, but with real, accessible coverage.
Mint
22-05-2025
- Business
- Mint
'Biggest scam?': Bengaluru CEO's grim outlook on middle-class salaries sparks debate
Are middle-class salaries the 'biggest scam' that nobody talks about? That's the question that a Bengaluru-based entrepreneur has come up with—and it's hitting home for a lot of folks online. In a candid LinkedIn post, Group CEO of fintech firm PeepalCo, Ashish Singhal didn't mince words. He called out what he described as 'the biggest scam no one talks about': the slow, silent squeeze on India's middle class. 'This isn't a collapse. It's a well-dressed decline,' he wrote, arguing that the illusion of financial stability is being stitched together with EMIs, credit card debt, and dreams downsized to fit tighter budgets. Citing numbers to substantiate his claim, Ashish Singhal stated that over the past 10 years, the group earning under ₹ 5 lakh saw a 4 per cent compound annual growth rate (CAGR), while the ₹ 5 lakh – ₹ 1Cr income group has seen just 0.4 per cent CAGR. And yet, on the surface, everything looks fine, opined the Bengaluru CEO. People are still taking that one vacation a year. Phones are getting smarter. EMIs are being paid. But a peek behind the scenes reveals delayed doctor visits, medical check-ups, delayed home repairs, and savings that barely exist, said Singhal. The Bengaluru CEO's take on middle-class salaries 'But you're also skipping the savings. Delaying the doctor the mental math in every Zomato checkout,' wrote the CEO. Concluding his post, the CEO asked his followers if they think "it's just an income issue, or even a money management issue?" "Good one. But, as CEO, what was the pay rise you gave to your employees vis-a-vis yours? That should be interesting to know," one user commented on the post. 'Crying on any platform won't make any difference. India was moving on like this and will continue like this. Nothing's gonna change here. Even after so much tax, there is nothing in return. Whoever can and gets the opportunity, just leaves the country, that's it. But again, salary alone can't make anyone wealthy anywhere in the world,' said another. Several other users supported the CEO and appreciated him for highlighting the matter. It is not just Ashish Singhal's post about the salaried middle class that has stirred up a debate. Earlier, Marcellus Investment Managers' CIO Saurabh Mukherjea, in a podcast, predicted a grim outlook for India's middle class in this decade, with the declining white-collar employment rates along with the rise in artificial intelligence.
NDTV
22-05-2025
- Business
- NDTV
"Biggest Scam": Bengaluru CEO's Post On Middle-Class Salary Crisis Sparks Debate
A Bengaluru CEO's LinkedIn post on "middle-class salaries" has sparked a discussion online. In his post, Ashish Singhal, co-founder and Group CEO of PeepalCo, said that with soaring expenses and stagnant salaries, the middle-class is quietly absorbing the economic shock, with no bailouts, no headlines and barely any conversation. "The biggest scam no one talks about? Middle-class salaries," he wrote, explaining the crisis this group faces. "Over the past 10 years: - The group earning under Rs 5L saw a 4% CAGR - Rs 5L- Rs 1Cr income group has seen just 0.4% CAGR - Food prices? Up nearly 80% - Purchasing power? Cut almost in half - But spending? Up, funded by credit," Mr Singhal wrote. "This isn't a collapse. It's a well-dressed decline. You're still flying once a year. Still buying a phone. Still paying EMIs," he continued. Further, the CEO claimed that while the middle class is struggling, artificial intelligence (AI) is quietly threatening white-collar jobs, and the ultra-rich have gained seven times in a decade. "The poor are being supported. The rich are scaling. The middle class is just expected to absorb the shock, in silence. No complaints. No bailouts. Just inflation, EMIs, and quiet pressure," he wrote. "It's time we start talking about this group. Not as a vote bank or a spending class, but as a segment that's powering the economy, yet getting squeezed out of it," Mr Singhal expressed. Concluding his post, the CEO asked his followers if they think "it's just an income issue, or even a money management issue?" Since being shared, Mr Singhal's post has accumulated more than several comments and reports. It has sparked a debate on the silent crisis facing India's middle class. Reacting to the post, one user wrote, "I am picking this signal consistently from a wide variety of sources. The middle class is quietly getting squeezed from both sides. But it's also its own fault for choosing to stay quiet and naively hoping that just staying the course of 9 to 9 jobs, home loans and car loans will improve the situation. The middle class's guilt is that it's taken too much on its own self and asks too little from the government. As they say, excess of nothing is good - being excessively conforming and hard working - has led to being stuck between the devil and the deep sea." "Well said! Middle class themself don't allow to think but gets driven by Agenda's set by others and keep draging thereby lost thier Willpower /Courage to Question," commented another. "This is quite interesting to read and yes thanks for putting this up. Because there are multiple bread earners in middle class segment who think that no matter how much they work hard the savings pot still remains empty. Maybe that's the reason middle class category stays in the same stage while the rich grow their wealth. I suppose there should be a system to help middle-class in upward mobility or atleast efforts should be made to balance the inflation," said a third user. However, one user said, "Crying on any platform won't make any difference. India was moving on like this and will continue like this. Nothing's gonna change here. Even after so much tax, there is nothing in return. Whoever can and gets the opportunity, just leaves the country, that's it. But again, salary alone can't make anyone wealthy anywhere in the world." "Good one. But, as CEO, what was the pay rise you gave to your employees vis-a-vis yours? That should be interesting to know," commented another.
Time of India
22-05-2025
- Business
- Time of India
India's middle class is bleeding quietly: Bangalore CEO says, 'EMIs, inflation, no savings are crushing them'
A searing LinkedIn post by PeepalCo CEO Ashish Singhal has ignited fierce debate over what he calls the "biggest scam no one talks about"—the financial pressure facing India's middle class. 'Over the past 10 years: The group earning under ₹5L saw a 4% CAGR. ₹5L–₹1Cr income group has seen just 0.4% CAGR. Food prices? Up nearly 80%. Purchasing power? Cut almost in half. But spending? Up, funded by credit,' Singhal wrote. His words hit a nerve. The middle class, he argues, is absorbing economic shocks silently—without complaints, without support. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Pelajari Undo Indian middle class salary is 'well-dressed decline' hidden in plain sight Despite rising costs of living and almost static wage growth , middle-class Indians continue to live what looks like a stable life. They still take holidays, upgrade their smartphones, and pay their EMIs. But beneath the surface, Singhal claims, the reality is bleak. 'This isn't a collapse. It's a well-dressed decline. You're still flying once a year. Still buying a phone. Still paying EMIs. But you're also skipping the savings. Delaying the doctor visit. Doing the mental math in every Zomato checkout,' he observed. Live Events Behind this illusion of progress lies a heavy reliance on credit. As salaries stagnate, credit cards and loans are filling the gap. Financial stress is rising—but it remains largely invisible. India's middle class gets no bailouts, no support. Just quiet pressure. Singhal's post has gained traction because it names a widely felt but rarely discussed issue. Middle-income earners—those in the ₹5 lakh to ₹1 crore bracket—have seen wage growth crawl at just 0.4% annually. Meanwhile, essential expenses—food, education, fuel, healthcare—have soared. He warns that while the poor benefit from welfare and the rich expand through investments, the middle class is left to shoulder the load. 'The poor are being supported. The rich are scaling. The middle class is just expected to absorb the shock, in silence. No complaints. No bailouts. Just inflation, EMIs, and quiet pressure,' he wrote. Online Reactions: Agreement, frustration, and some pushback The post struck a chord online. Many LinkedIn users echoed Singhal's sentiment. One founder commented, 'The middle class is quietly getting squeezed from both sides. But it's also its own fault for choosing to stay quiet and naively hoping that just staying the course of 9 to 9 jobs, home loans and car loans will improve the situation.' Another CEO asked Singhal to reflect on his own pay practices: 'Good one. But, as CEO, what was the pay rise you gave to your employees vis-a-vis yours? That should be interesting to know.' Some users felt nothing would change. 'Crying on any platform won't make any difference. India was moving on like this and will continue like this,' one commenter wrote. Another added, 'Salary alone can't make anyone wealthy anywhere in the world.' Yet others offered a more optimistic view. One LinkedIn user shared that his income had grown and his living standards had improved. Still, the overwhelming response reflected unease. This isn't the first time someone has flagged the growing stress on the Indian middle class. Last month, investment banker Kanishk Kar shared a similar warning on LinkedIn. 'Incomes haven't kept up with inflation… The cost of basics — food, rent, fuel, school fees — is rising faster than wages. Every month, that 'buffer' money is getting thinner,' Kar wrote. He added, 'The Indian middle class is not lazy. Not entitled. Not unambitious. They're just running on a treadmill that's speeding up while their shoes are wearing out. If we want a stronger India, we need to stop treating them like they're fine. Because they're not.' A shrinking middle-class: Big numbers, small gaiins India's middle class, which made up 31% of the population in 2021, is expected to rise to 38% by 2031 and 60% by 2047. But despite this growth in numbers, the class's financial well-being is eroding. Households are managing lifestyle expenses—but often at the cost of savings, insurance, and health. Aspirational living is funded not by rising income, but by rising debt. Behind the numbers lies a sobering truth: India's middle class—the backbone of its consumer economy—is under stress, silently slipping into a less secure future
