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How is your EMI calculated?!
At a constant interest rate, EMI is constant month on month. The change happens in the way the principal and interest is added every month! In the initial years of loan repayment principal is lesser than the interest component of the EMI. In the latter years the reverse is true!
Citigroup stresses more on financial inclusion
Banking giant, Citigroup is ready to play its part in the growth of Indian banking sector by continuing its concentration on microfinance and priority segments of the country such as financial inclusion and education sector, according to the bank’s CEO.
CEO Vikram Pandit said, “We have a strong franchise in India and are looking forward to being a part of India’s growth”.
He said, “From helping India’s top global corporations, to supporting the growth ambitions of its small and mid-sized enterprises, to helping individuals and households build their financial futures, we will play a major role in India’s economic future.”
He added, “We will continue to emphasise on microfinance and support India’s priorities, particularly in the areas of financial inclusion and financial education“.
Pandit also said, “Today we are following three core principles in Citi. First, we are focused on being a global bank. Second, we are focused on serving our client interests. And third, we are leading with our competitive strength”.
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