 "Nirmala Sitharaman launched the NPS Vatsalya scheme, empowering parents to secure their children’s future through pension savings.")
Union Finance Minister Nirmala Sitharaman recently launched the NPS Vatsalya scheme, aimed at helping parents save for their children’s futures through a pension account. Parents can subscribe online or visit their bank or post office, starting with a minimum investment of Rs 1,000, followed by an annual contribution of Rs 1,000. This scheme allows children ...
 "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. ...
 "Rising Incomes Spark Household Savings Rebound in India’s Economic Landscape")
RBI Deputy Governor Michael Patra addressed the CII Financing Summit, discussing trends in household savings and financial assets in India. He pointed out that net household savings as a percentage of GDP have decreased significantly, partly due to changes in spending behavior and a shift towards physical assets like housing. Despite this decline, household savings ...
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