What these people ignore is that credit cards no doubt provide a line of credit that can come in handy in emergencies. But when the interest-free period is over in a few weeks, the money has to be paid back eventually. That too in full to avoid exorbitant interest rates (up to 40 per cent). And if a person then has no buffer or emergency fund, then how will he suddenly find the money to clear off those credit card dues that were taken for handling emergencies? … [Read more...] about When layoffs and pay cuts abound, how large should your emergency fund be?
Secured credit cards
This is not a problem only in India; it is a problem globally. Even in Europe and the US, we have faced this problem while trying to automate our models. In India also, we are trying to automate most of our models. We are partnering with banks and NBFCs and trying to use the huge amount of data that they are sitting on to simplify, automate and test our assessment models for Indian SMEs. We are looking to tie up with accounting software companies so we can directly source data from them. But I think overall there is a lot of movement in India with regards to digitisation of data, which will help businesses like ours.Q: Recently, another UK-based company, ClearScore, exited the India market. How do you wish to make money here?Goel: We are a software as a solution business working with lenders. We are a revenue-generating company and are in advanced talks to deploy our solution with a large bank and that deal will get announced soon. We are already generating some revenue here and our … [Read more...] about Exclusive | India and the world were already overleveraged when COVID-19 hit, hence there will be massive bankruptcies: NYU professor emeritus Edward Altman
With Facebook’s vision now involving private spaces holding equal sway with public forums, the company’s Messenger product may take a couple of steps toward the limelight. The Messenger app, which was broken off from the main Facebook app in 2014, is by nature private, facilitating one-on-one conversations, group chats, and secure functions like payments. … [Read more...] about Facebook’s privacy push puts Messenger in the spotlight—but pitfalls abound