 "Household savings decline as borrowing rises, with a dramatic shift from deposits to diverse financial assets in India.")
Household savings decline as borrowing rises, with a dramatic shift from deposits to diverse financial assets in India.
A recent report by BCG reveals significant shifts in household finances in India over the past decade. While household deposits as a percentage of GDP dropped from 6.1% to 4.1% in 2023, borrowing increased from 3.3% to 5.8%. This trend shows that unsecured lending in India is now comparable to that in the United States. ...
