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Households savings shift from bank FDs to mutual funds
The Business Guardian
|December 24, 2024
Meanwhile, household investments in life insurance funds have seen an uptick, rising from 20.8 percent in 2021 to 21.5 percent in 2023.
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The savings pattern of Indian households has been undergoing a significant shift over the past three years, with funds increasingly moving from traditional bank deposits to mutual funds and life insurance, according to an SBI report.
The report highlighted that the share of household savings in bank deposits, which stood at 47.6 per cent in 2021, has dropped to 45.2 per cent in 2023.
This story is from the December 24, 2024 edition of The Business Guardian.
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