Why did RBI withdraw the 2000 Rupee note?
Demonetization resulted in the use of Rs 500 and Rs 1,000 notes being prohibited, currency notes of Rs 2,000 were launched in November 2016 under Section 24(1) of The RBI Act, 1934, primarily with the objective of fulfilling the currency requirement of the economy after the legal tender status of Rs 500 and Rs 1000 […]
Loan Applications Getting Banned Mind-Boggling News By Indian Government!
Remember the time when the Indian government banned several Chinese mobile applications, including TikTok and Shein? This ban was implemented in June 2020 amid concerns over data privacy and security. The government stated that these apps were “Prejudical To The Integrity & Sovereignty Of Our Country.” The ban on Chinese applications was part of a […]
Why Is Financial Literacy Important For Children to Learn?
Apprehending financial topics is important for everyone, no matter what caste, creed, or age group you are. Whether it’s managing your home, or handling student loans, the use of this topic helps individuals to take control of financial crisis. Making a stern decision is also very important when it comes to money management. Financial literacy […]
The Importance of Seeking Help When You’re Unable to Pay Your Debt
Pay Your Debt Consumer debt levels have expanded in each class, however, home loan, vehicle, and Mastercard debts were the greatest driver of the general increment. People are forced to take loans, which makes them spend more than they earn. High inflation and financial stress brought on by the pandemic are increasing household debt, particularly […]
What Is Loan Restructuring & How Can It Benefit You
The procedure of loan restructuring might be initiated by extending the loan’s maturity date, with or without modifying the interest rate. The principal payable amount is spread out over an extended payback term in this technique, which relieves borrowers by lowering the EMI load. Another loan restructuring option that can assist a troubled borrower is […]
What does a recovery agent do?
What does a recovery agent do? Recently, many debt collection agencies have harassed people in order to collect on their unpaid debts. As a result, majority of people have been affected by mental illness, and some have even committed suicide due to pressure. What does a recovery agent do? A majority of people receive threatening […]
The dark side of buy now pay later schemes
Buy now pay later schemes is the most instant solution and the coolest way to purchase an essential item, but looking at it closely, it might be a sign of massive interest rates and a debt trap. It is easier than ever to get what you want, when you want it- regardless of how much […]
RBI have imposed strict norms on harassment for debts by recovery agents
A number of recent illegal harassment for debts practices have come to the news and are spreading like wildfire. Thus, many people are facing miserable lives by going into severe depression or by committing suicide. This matter has been deemed as a serious matter by the Reserve Bank of India (RBI). This is because people […]
Vishing calls- How do Indians deal with spam calls?
Vishing calls- How Indian deals with spam calls Over the last decade, smartphones have become an extension of the physical body. The convenience of getting a service delivered with a few simple taps on the screen makes it appealing even for naive users to fully adopt the digital lifestyle, enabling them to become cashless. UPI […]
Importance of a Debt Management Plan
With debt management programs, it is easy for someone who is in debt to repay it. The importance of debt management plan can be a lifesaver for those who are deeply stuck in a debt trap. Debt management plans- also called DMP, Debt Solution Plan or debt counselling- are now-a-days booming in the market as […]
