Emergency funds are very different from a savings account concerning their purpose. Emergency funds should be liquid and very easily accessible. While a savings account does not keep pace with inflation, it is for the long term “saving the money” purpose. In India, the two funds can be blended by storage. This translates that, an emergency fund can be stored in a savings account.
In India, there is no specific type of accounts that hold Emergency funds. Because of this, the money can be put into a savings account or even mutual funds, as both the solutions are easily accessible in case of an emergency and liquid too.
There are situations where using a credit card might not be a bad solution, but it can only be considered if you are ready to pay off your debt by the due. And if the former one is true, it may lead to a great credit score, which can benefit you with taxes.