New Delhi, June 20 -- With retail inflation easing to 2.82% in May. This is the lowest figure in over six years. Due to this development, several prominent banks are consistently slashing lending rates following policy rate cuts by the central bank. Borrowers on the other hand are also re-evaluating the strategic use of personal loans in times of financial strain and opportunity.

The real challenge hence in front of borrowers is to use the availed personal loans efficiently and effectively especially during such a volatile financial environment where inflation and the economic landscape is rapidly evolving. Time calls for prudence and sensible decision making.

Elaborating on the same, Sudhir Khot, Founder of Financial Fitness says,"A sm...