AFTER sharply declining during the pandemic, India's household savings are rebounding on the back of rising income levels, according to the Reserve Bank of India (RBI).
Speaking at an event in Mumbai on Tuesday, RBI deputy governor Michael Debabrata Patra said that the rebound process has already begun, noting that households' financial assets have increased from 10.6% of GDP during 2011-17 to 11.5% during 2017-23. And there is room to grow further because the level was 15% of GDP during the early 2000s till the global financial crisis.
This story is from the September 04, 2024 edition of The New Indian Express.
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This story is from the September 04, 2024 edition of The New Indian Express.
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