EMI Moratorium Math Explained

22-May Update — RBI has extended EMI moratorium on all term loans by another 3 months till 31-August-2020. The Reserve Bank of India had announced a 3-month EMI moratorium as a Covid-19 regulatory package in March 2020. In a previous post, we discussed if you should opt for such a moratorium. The crux was that, if… Continue Reading

What If Your Lender Fails?

Recently, RBI imposed a moratorium on withdrawals from a leading private bank. The depositors and the investors with the bank were understandably worried. The stock price tanked the following morning. We have been focusing on how the various depositors will be affected. As I understand from the bank’s restructuring plan, the depositors are completely safe… Continue Reading

EMI Moratorium: Should You Opt?

22-May Update — RBI has extended EMI moratorium on all term loans by another 3 months till 31-August-2020. Following RBI’s Covid-19 regulatory package, your bank may have provided you an option to not pay loan EMIs or credit card payment until May 31, 2020. As a borrower, should you opt for this? In this post, let’s… Continue Reading

Bajaj Finserv Debt Consolidation Loan

It began with a small loan that you couldn’t repay on time. Then, you had to take another loan to repay the older one. Your spendthrift ways continued. You had credit cards and you kept making minimum payments and kept rolling over debt. Gradually, things started getting out of control. The high rate of interest… Continue Reading

RBI Enhances the Security of Credit and Debt Cards

My current credit card expired recently and I was issued a fresh card by the bank. An interesting thing about the new card was the it permitted contactless transactions. Call me paranoid but I was not very comfortable with the contactless feature. I asked the bank to switch off the feature but the bank declined.… Continue Reading

Budget 2020 Highlights

The Finance Minister, Nirmala Sitharaman, presented the Union Budget 2020 in the parliament yesterday. In this post, let’s look at the highlights of the Budget proposal. We will look at the proposals from personal taxation perspective only. #1 Restructuring of Income Tax Slabs, Lowering of Personal Tax Rates and a Choice There is a major… Continue Reading