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Taking loan ? Act wise, cautions RBI

Taking loan

The Reserve Bank of India (RBI) has issued a notification, in public interest, cautioning the people to act in a wise way in the matter of taking loans.
      Proper financial management is the way to worry–free life. Take loans only to the extent of your repayment capacity. Utilize the loan amount to the purpose for which it was taken. Work out the total amount of loan you have to pay and repay the loan amount on time, the notification says.
      Needless to say that the caution was given in view of reports about people taking the extreme step unable to repay the loans taken.

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