When working as a debt counsellor with Abhay Credit Counselling Centre, an initiative by the Bank of India, V.N. Kulkarni advised borrowers who were drowning in debt. There was one thing common among the majority of the cases. The borrowers spent heavily on credit cards and then kept paying the minimum amount due, which is, typically, 5% of the outstanding.
Health, life insurance premiums need a tax cut? GoM to meet on October 19
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