Indian Household savings Rose
A study released by UBS in January
2021 revealed that household savings in India rose in 2020 after declining
steadily between 2014 and middle 2019.
The foreign brokerage UBS said household savings scooped up a hefty $200
billion in extra savings, which is a 20 year high.
Bank deposits & insurance / pensions
form 14% each of the total household savings, while nearly 19% constitute
claims on government and a whopping 135% are in hard currency, according to the
UBS report.
“The sharp surge in retail deposits
of banks, inflows into government's small savings schemes, insurance (new
business premium & resilient persistency ratios), retail equity flows and
rising cash in circulation are all evidence of higher financial savings by the
households,” the UBS report said.
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