Dealing with recovery agents, baking a cake: Top personal finance stories

Our weekly newsletter this week has stories on loan customers' rights and the boom in bakery business

Banks are hiring more recovery agents as they witness a rise in non-performing assets in the unsecured loan segment. Even though the Reserve Bank of India has a code of conduct for recovery agents, social media is full of cases of people who have been subjected to threats and public shaming by recovery agents. In this week's lead story, Sanjay Kumar Singh and Karthik Jerome dwell on the rights of borrowers, and how they should respond to misconduct by agents.   The second article, by Namrata Kohli, explores the art and science of baking. It emphasises its creativity, therapeutic value, and cultural significance. It discusses the distinction between artisanal and standard cakes, offers practical baking tips, and underlines the significance of decoration and presentation. Enthusiasts and consumers alike must read this piece for invaluable insights.   HR departments are sending emails requesting employees to submit proof of their tax-saving investments. If you haven’t finalised your investments yet, consider Equity Linked Savings Schemes for their potential to deliver high returns alongside tax benefits. To zero in on a scheme, check out Morningstar’s review of the SBI Long-Term Equity Fund.   Planning to buy a car in the new year? If you’re seeking a loan to finance the purchase, Paisabazaar.com provides a comprehensive table comparing interest rates from leading lenders.   NUMBER OF THE WEEK   Retail Inflation eases to 5.2%   Retail inflation, based on the consumer price index, eased to 5.22 per cent in December, a four-month low, down from 5.48 per cent in November, according to data released by the National Statistics Office on Monday. This decline was largely attributed to moderation in food inflation.   Food inflation dropped to 8.39 per cent in December from 9 per cent the previous month. The decline in food inflation was mainly driven by a reduction in the prices of vegetables, which slowed to 26.6 per cent in December from 29 per cent in November. However, prices for certain food items accelerated, with meat rising by 5.3 per cent, eggs by 6.85 per cent, edible oils by 14.6 per cent, and fruits by 8.5 per cent.   Meanwhile, core inflation, which excludes food and fuel, further decreased to 3.5 per cent in December. Fuel prices contracted by 1.39 per cent, while inflation in transport (2.64 per cent) and education (3.89 per cent) remained unchanged. Additionally, inflation in household goods (2.75 per cent) and personal care products (9.7 per cent) showed signs of deceleration.   In December, the Reserve Bank of India maintained its policy repo rate at 6.5 per cent, marking the 11th consecutive meeting where the rate was kept unchanged, while adopting a “neutral” stance.