In India the social status of families in some places depends on how lavish the wedding of their daughter was, so many families take large loans so that they can have a posh wedding for their daughters inviting a large number of people, wasting money on decoration, food which they cannot afford. Often people then find it difficult to repay the loan which they have taken and are in debt for the rest of their lives
If people did not face any social pressure to spend lavishly for their wedding, a lot of debt could be avoided.

Many top industrialists in India lead lavish lifestyles, yet they do not bother to repay the loans they have taken for their business, resulting in bad loans for the banks, and non performing assets, which causes losses. Ultimately the indian tax payer has to fund these loans, causing problems in a country where a small section of the population will pay taxes. More information at Debt and loan guide