Magazine : 
Ugly Truth: India Witnesses Highest Number of Bankruptcy Suicides in 2013
Dr Harish Shetty, social psychiatrist at L H Hiranandani Hospital, said, “Financial distress had emerged as a major cause of such incidents on account of a breakdown in support structures, as families shrunk. The first peak of such suicides was during the Harshad Mehta scam.
People could not deal with their losses in the share market. We saw it again during the time of Ketan Parekh and then with the rise of globalisation. In recent times, inflation has been high; jobs have been unstable and EMIs (equated monthly instalments or loan payments) have been difficult to deal with for many people,” reports Sachin P Mampatta of Business Standard.
The NCRB report states suicides due to bankruptcy are mostly witnessed in the age group of 30-44 with 1,193 such cases and 804 were between the age group 45-59 years, 481 were aged 15-29. A total of 195 were senior citizens (aged 60 years or more). The report also further disclosed that as compared to women, men were more likely to cut short their lives for financial related problems.
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