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?

  • Last Updated : April 21, 2024, 09:44 IST

From your Gmail login ID, to your Facebook password, from your Microsoft’s user ID to bank-related information, everything is being sold in the dark web for just Rs 490. Cyber security company Nord VPN recently revealed that the data of 6 lakh Indians were stolen from their devices. Hackers are selling them in the bot market i.e. in dark web. Bot market is an online marketplace of user data stolen by hackers around the world. Data of about 50 lakh users is being circulated in this market, out of which 12% is of Indian users.

We all have dozens of apps on our phones. From one, we order food, from other we buys clothes and from other apps we order food and groceries. Countless apps keep popping up on your homescreen. One of your office colleagues or friends would tell you about an app that can get your X-ray done in minute.  Whether you really need your X-ray or not, once you come to know about such an app, you will certainly try to use it. Once you find that app, you will obviously try it – but this trial can prove to be highly dangerous.

Utility apps are stealing your data

Under the guise of meeting your needs, apps that look harmless can steal your information wearing the mask of providing utility features. Apps steal user’s information. The user doesn’t even get to know that his data is being stolen. Such information are login details such as username, password, bank account number, payment app PIN, etc. According to the Netherlands-based cybersecurity company Threat Fabric, there are many apps on the Android platform that will ask you to give permission for updates as soon as it is installed in your phone. Malicious softwares are installed in such apps. These are called malware dropper apps. These apps reach your phone on the pretext of having numerous features. These features include managing downloaded files in your phone, tracking fitness or recovery of your deleted images, etc. Also, you should stay away from apps that pay money for playing games or watching videos.

Ban on mobile apps

Users get the option to download millions of apps on android and playstore platforms.The government from time to time keeps on banning apps which are deemed to be collecting information. In 2020, the government had started banning apps that steal users’ data and violated security norms. These included Chinese apps. In the first digital strike, 59 apps were banned. After that, more than 47,000 apps have been banned.

How to protect?

If you want to avoid apps that steal data, then it is important that you are able to identify these apps. Keep these things in mind – When apps ask you for a lot of permissions, you should become alert. For example, why does a photo editing app need permission to access your contacts?

Check how many times the app has been downloaded? More download counts are good but check the background of the company that created the app. Are You able to find its website. If there is no company website, that is, there is no address, then distance yourself from such apps.- Delete the history by going to your phone’s browser settings. Choose multiple browser options. When your browser data is saved in the phone, hackers steal it and sell it in the bot market.

Published: May 25, 2023, 10:11 IST
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