One should always be a pro in managing finances by making a note of the assets and liabilities and defining personal goals. it is important to prepare a budget for the coming year to be in a better position to understand where the money is being spent and where one will undertake savings.

The failures of Indian banks in the recent times has taught us simple reasons as to why, perhaps, it is good to keep only Rs 5 lakh in a bank.

New Delhi: India's financial capital Mumbai, which is home to 46,000 millionaires and 28 billionaires, is the richest Indian city with a total wealth of USD 820 billion, says a report.