What portion of your salary should you spend on loan EMIs?
Most people buy a house or a car by taking a loan from the bank, but do you know what is the maximum portion of your salary that you should spend on EMI? What is the 40 percent EMI rule? What are the disadvantages of spending more on EMIs? Among home loan, personal loan, auto loan and credit card bills, which loan should you eliminate first?
HDFC Bank on Monday said it will be organising 2,000 workshops in the next four months for preventing financial frauds.
Focus on youth
The largest private sector lender’s campaign will tell customers about ways to safeguard themselves against financial fraud, starting with non disclosure of any information on banking details.
As per an official statement, a special focus will be given to the youth segment, where the bank will be targeting Senior Secondary Schools and Colleges, so that the awareness is ingrained.
Managing Director and Chief Executive Sasidhar Jagdishan said that “Digitization offer customers unparralled convenience and access to banking services. A lot of risks and cyber frauds comes with these conveniences”. The fraudsters are constantly on the look out for gullible customers, he added.
K. Rajeswara Rao, Special Secretary, NITI Aayog launched the second edition of the campaign titled ‘Mooh Band Rakho’ . Lt General Dr Rajesh Pant, National Cyber Security Co-ordinator, was also present.