Here are the two reasons
1. Safety of your money
2. Practical & Operational reasons
What can go wrong ?
1. Freezing of account operation by regulators ( to save the bank)
Ex : PMC Bank , YES Bank , Global Trust Bank.
What can go wrong ?
2. Technology related problems
Ex: Website, App , OTP , KYC, Online fraud etc issues.
What can go wrong ?
3. Your bank may force stop your account, if your dealings are unsatisfactory.
Ex: Non servicing of your debts by you etc due to financial stress
What should you do ?
1. Have accounts in 2 to 3 banks ( don’t open too many accounts )
2. Have credit card from 2 banks ( visa & Master cards )
3. Park your money also in debt funds of mutual funds
4. Have some cash kept with you always ( don’t hoard cash )
To Consult Dr. Chandrakantha Bhat WhatsApp @ + 971 50 148 4595
DISCLAIMER : Please consult your professional financial advisors before taking any action based on inputs of this video and other videos of this channel. Dr. Chandrakantha Bhat or NRI Money Clinic you tube channel is not responsible for any losses or undesirable outcome for action taken by you without proper consultation with professional advisors in the field of finance.
Links to my previous videos:till now
How to make money from stock market crash https://youtu.be/KejZ8nKpLPA
https://youtu.be/UfNQkH3cmWE CORONA VIRUS – IMPACT ON GLOBAL MARKETS – PART 1
https://youtu.be/MC5nAbWLkMo CORONA CRASH 2020 – DOS AND DON’T FOR YOUR SURVIVAL
WHAT TO BUY? SHARES OR MUTUAL FUND?
https://youtu.be/0nl9sPJBUQs
CORONA VIRUS (PART 2): IMPACT ON INDIAN ECONOMY – By Dr. Chandrakantha Bhat
https://youtu.be/Fo91G9hdXHQ
What does your portfolio valuation really mean ? https://youtu.be/VkEwq8g2oFM
6 COMMON MISTAKES DURING RETIREMENT https://youtu.be/ivus9eJWKXM
Why Investors Fail ? https://youtu.be/c8jxppcdXhs
Budget 2020: Impact on NRI’s (Part 2) Who and When Will They Get Affected?: https://youtu.be/Hq5iPSEWcAI
Budget 2020: Will NRI’s Overseas Income Be Taxed Now? (Part 1) NRI Money Clinic: https://youtu.be/uXM9AKo9HrM
Why You NEED an Emergency Fund! by Dr Chandrakanth Bhat NRI Money Clinic:
https://youtu.be/fBm8bokZI0c
Role of a Financial Planner: https://www.youtube.com/watch?v=KZPnnn3NqyM
What is the meaning of money? : https://youtu.be/AAxQ4ywScos
6 steps to generate good returns on your investments – https://youtu.be/AAxQ4ywScos
Why you should watch this channel – https://youtu.be/rgsHfw41W_8
Don’t Buy a Life Insurance Policy Until You Watch This! https://youtu.be/q0adm_CKvew
Why are your mutual funds not showing the returns?https://youtu.be/28TfBq_OGx8
NRI Money Clinic is a YouTube channel created by Dr. Chandrakantha Bhat , an investment consultant and financial planner in Dubai . It aims to spread financial literacy and educate on money matters for resident and non resident Indians . The channel discusses subjects like Fixed Deposits , Taxation , Mutual Funds , Insurance , Specific Issues pertaining to NRI community and every other investment opportunity. Dr. Chandrakantha Bhat can be reached on Whatsapp on +971 50 148 4595
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DISCLAIMER : Please consult your professional financial advisors before taking any action based on inputs of this video and other videos of this channel. Dr. Chandrakantha Bhat or NRI Money Clinic you tube channel is not responsible for any losses or undesirable outcome for action taken by you without proper consultation with professional advisors in the field of finance.
#nrimoneyclinic #coronavirus #marketcrash