Calm, practical help with money
Money worries affect health, sleep and relationships. There are no magic fixes, but there are clear steps you can take and genuine places to get help.
Be careful of anyone promising to cancel your debts. Loans, EMIs and bills cannot be settled with certificates, credits, trust documents or letters sent to authorities. Stopping payments on that kind of advice can lead to penalties, recovery action and a damaged credit score.
Build a simple budget
- Write down everything that comes in and goes out in a month.
- Cover essentials first: rent, food, utilities and loan EMIs.
- Set aside something for savings, however small, before spending on extras.
Stay safe from loan-app traps
- Borrow only from banks and lenders regulated by the Reserve Bank of India, and check the lender before sharing any details.
- A regulated lender must give you a Key Fact Statement showing the full cost of the loan. Read it before you agree.
- Never allow an app access to your contacts or photos.
- Report harassment or fraud to the national cybercrime helpline on 1930 or at cybercrime.gov.in.
- Report unauthorised lending or deposit schemes on the RBI's Sachet portal (sachet.rbi.org.in).
Know where you stand
You are entitled to a free credit report once a year from each credit information company. Check it for mistakes and ask the company to correct anything that is wrong.
If you are struggling with debt
- Talk to your lender early. Many lenders will discuss a revised repayment plan before things get worse.
- Escalate unresolved complaints. If your bank or regulated lender does not resolve a complaint within 30 days, or you are unhappy with the reply, you can complain to the RBI Ombudsman at cms.rbi.org.in.
- Get free guidance. Centres for Financial Literacy, set up under the RBI's initiative, offer free sessions on managing money and credit.
This page is general information, not financial advice. For decisions about loans, investments or tax, speak to a qualified adviser.