Credit Card & Mini Loan Rising, Youth is Frustrated, Opinion?

Growing up, I feel there were lot of gaps in financial education which was given to lot of us. The big guys in BLR/MUM/DEL are spurring mini loans and credit card for all, even those with low Cibil score. Indian aren't ready for it and are taking it to keep their status game on and ending up getting fucked mentally at a very younge age. My brother lost around ~10L in F&O using loan/credit card money which is still on rotation. I am sure these companies must have given some money as electoral bonds to govt. to operate at a such unregulated state for a long period of time. Outrageous, youth is depressed, country is doomed. Why no one is talking about it?