Net financial assets of households moderated to Rs 21.4 lakh crore or 6.2% of GDP in FY26, compared with Rs 22.3 lakh crore or 7% of GDP in the previous year as financial liabilities grew sharply, data from RBI’s July Bulletin show.
Financial liabilities rose to Rs 21.4 lakh crore or 6.2% of GDP in FY26 as compared with Rs 15.7 lakh crore or 4.9% of GDP in FY25.
While gross financial assets grew to 12.4% of GDP in FY26 from 11.9% of GDP the year before, the share of equities dropped to 13.2% after rising each year from FY20 onwards. Correspondingly, the share of bank deposits in financial assets rose 35.7% to Rs 15.3 lakh crore in FY26 from 33% or Rs 12.5 lakh crore in FY25.
The net financial assets of households had plunged to a half-century low of 5.3% of GDP in FY23 because of the pandemic-induced income crunch. In FY23, financial liabilities touched 6.1% of GDP and these rose to 6.6% of GDP in FY24.
