How to Prepare for a Financial Emergency or Crisis?

What Are the Ways to Prepare for a Financial Crisis?

FAQs About How to Prepare for a Financial Emergency

Under what circumstances is a financial emergency declared? up-arrow

The President, with the cabinet members' advice, can declare financial emergencies if and when:

  • The financial stability of the country is in question
  • The credibility and economic stability of the country are threatened by terrorism

Who declares financial emergencies in India? up-arrow

With the cabinet members’ approval, the President holds the authority to declare financial emergencies, based on the country’s financial stability.

What aspect of the finance industry is not affected by financial emergencies? up-arrow

The allowances and salaries of all classes of people are lowered by the President of India and are not affected by financial emergencies.