The EMI life is a curse of modern consumerism. Any number of young (and not so young) salary earners see their salaries getting credited and immediately decimated by the withdrawals automatically made by the lenders. The weeks leading up to Diwali are a good time to think of this problem simply because this is the time of the year when the lure of buying things is at its peak. There are entire industries that are working overtime to make EMI borrowing easier, so that you can spend casually and impulsively. Once, there was an impressive amount of paperwork to be done before you could buy something on installments. Now, it literally takes minutes and that too with hardly anything more than standard ID proofs. In fact, even minutes is too long. For example, on Amazon and other e-commerce sites, you can instantly convert credit card purchases to EMIs. Not just that,a large financial services company has actually introduced an ‘EMI card’ which encapsulates a pre-approved EMI limit. Consumers can just swipe a purchase and have it added to an EMI. One can imagine the effect of having an EMI purchase process that’s exactly the same as a card purchase, specially when this is available for online purchases.