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An emergency could be in any form; a small one like car breakdown and a big one like job loss, which may continue for several months. In such a situation you will not only have to manage your household expenses but also continue paying your labilities like EMIs and credit card dues.
from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/invest/what-is-emergency-fund-how-to-invest-it/articleshow/81205621.cms
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