Financial assets of households grew at 17.5% in FY21, at a faster kip than their financial liabilities, which grew at 11.3%.
On a stock basis, financial liabilities remained less than 40% of households’ gross financial assets during the last decade.
Data from Reserve Bank of India show household credit-to-deposit ratio, which provides insight on financial stress/lack thereof in households, has been increasing since FY18 and touched 60.2% in FY20, suggesting that the household sector remains a net lender to the banking sector.