Defaulted on a personal loan? You may have to face these consequences

Defaulted on a personal loan? You may have to face these consequences

Failing to repay a personal loan can lead to significant financial repercussions and negatively impact your credit score. Furthermore, the failure to repay your loan can lead to unnecessary stress. Waiting to communicate with your lender after missing a payment only compounds the anxiety over time. Here are some of the key consequences: Impaired credit … Read more

RBI’s credit card curbs are a classic case of ‘prevention is better than cure’

RBI’s credit card curbs are a classic case of ‘prevention is better than cure’

The Indian economy has been doing well, with three consecutive quarters of 8%-plus growth so far in FY24. During this period, the banking sector’s credit growth has increased nearly 17% to ₹160 trillion, according to data from the Reserve Bank of India (RBI). Credit card debt has risen by 23% to ₹2.5 trillion, which is … Read more