Anyone at any point of time may be in need of urgent case due to delay or non receipt of expected income of sudden unforeseen additional commitments. People usually prefer short term loans at exorbitant tare of interest.
To over come this problems, everyone should be prepared with a reserve fund called emergency fund.
To concept of maintaining emergency fund is not common among Indians. You can create emergency fund by investing in one lump sum or over a period of time though SIP in a Liquid Fund. It is advisable to maintain 3-6 times your regular month commitment in Emergency Fund not more than that (Because cash is powerful but not a good investment).