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In 2023-24 households added ₹34.3 lakh crore of financial savings and ₹18.8 lakh crore of borrowing.

Borrowing was 54.8% of the savings added in 2023-24, against 27.9% in 1983-84. Its lowest was 8.8% in 1991-92. The largest share of new savings in 2023-24 went to bank deposits, and life insurance has grown from 7.3% to 17.2%.

Where each year’s new savings wentEach holding’s change in the year as a share of all household financial assets added that year, by fiscal year
  • Bank deposits
  • Provident and pension funds
  • Life insurance funds
  • Shares and debentures
View as a table
Fiscal yearBank depositsProvident and pension fundsLife insurance fundsShares and debentures
1983-8442.516.27.33.0
1984-8541.916.06.63.2
1985-8641.516.47.05.5
1986-8745.615.96.85.6
1987-8840.618.07.22.3
1988-8936.918.98.62.8
1989-9029.019.79.25.5
1990-9131.918.99.58.4
1991-9226.218.410.310.0
1992-9336.718.48.910.2
1993-9433.116.78.79.2
1994-9538.414.77.89.3
1995-9632.118.011.27.1
1996-9732.119.210.24.2
1997-9843.118.811.32.6
1998-9938.422.411.32.5
1999-0035.122.812.16.9
2000-0138.320.613.74.5
2001-0239.515.514.43.4
2002-0337.914.216.12.2
2003-0440.012.613.42.3
2004-0539.112.515.21.8
2005-0645.510.614.35.8
2006-0756.19.515.06.6
2007-0850.49.322.09.6
2008-0957.510.121.0-0.3
2009-1040.213.126.24.5
2010-1150.813.119.50.2
2011-1256.410.321.01.8
2012-1354.014.716.91.6
2013-1453.714.917.21.6
2014-1546.115.223.81.6
2015-1641.619.417.71.9
2016-1758.120.221.910.8
2017-1825.418.016.78.6
2018-1934.317.917.17.6
2019-2035.619.514.64.1
2020-2139.116.218.63.5
2021-2230.021.118.68.2
2022-2335.321.118.87.0
2023-2442.021.017.28.0

Where new savings go

Bank deposits took 42.0% in 2023-24, against 42.5% in 1983-84. In between, the share swung between 25.4% in 2017-18 and 58.1% in 2016-17.

Life insurance funds went from 7.3% in 1983-84 to 17.2% in 2023-24, and was highest in 2009-10 at 26.2%. Provident and pension funds went from 16.2% in 1983-84 to 21.0% in 2023-24, and was highest in 1999-00 at 22.8%. Shares and debentures went from 3.0% in 1983-84 to 8.0% in 2023-24, and was highest in 2016-17 at 10.8%.

Currency went from 14.8% in 1983-84 to 3.4% in 2023-24. Its lowest was −20.6% in 2016-17, the year the ₹500 and ₹1,000 notes were withdrawn, when households’ cash holdings fell and bank deposits took 58.1% of the year’s savings.

A share can be negative when a holding fell in the year. The yearly shares move a lot, so read the direction over several years, not one year. RBI’s table has a line for units of UTI, which is nil in recent years, and no separate line for other mutual funds.

Mutual funds

Mutual funds managed ₹73.7 lakh crore at the end of 2025-26, up 12.2% on the year before and 12.0 times the ₹6.1 lakh crore of 2009-10. They took in ₹7.4 lakh crore net in 2025-26. Net inflows were highest at ₹8.2 lakh crore in 2024-25 and lowest at ₹54,580 crore in 2013-14, over the years from 2012-13.

These are the assets and inflows of all mutual funds, from every kind of investor, including companies and institutions, so they are not a measure of households’ own holdings and cannot be added to the shares above. RBI’s household table has a line for units of UTI but no separate line for other funds.

Assets under management of mutual fundsTotal at the end of March, by fiscal year. The last year is provisional.
View as a table
Fiscal year₹ crore
2009-106,13,979
2010-115,92,250
2011-125,87,217
2012-137,01,443
2013-148,25,240
2014-1510,82,757
2015-1612,32,824
2016-1717,54,619
2017-1821,36,036
2018-1923,79,584
2019-2022,26,203
2020-2131,42,764
2021-2237,56,683
2022-2339,42,031
2023-2453,40,195
2024-2565,74,287
2025-2673,73,377 (provisional)

Borrowing against savings

Households added ₹18.8 lakh crore of financial liabilities in 2023-24 against ₹34.3 lakh crore of financial assets, so borrowing was 54.8% of savings added. In 1983-84 it was 27.9%. Banks supplied 99.9% of the new borrowing in 2023-24, up from 85.3% in 1983-84.

Borrowing as a share of savings addedHousehold financial liabilities added in the year as a share of household financial assets added, by fiscal year
View as a table
Fiscal year% of financial assets added
1983-8427.9
1984-8524.3
1985-8627.3
1986-8726.7
1987-8825.7
1988-8932.1
1989-9021.1
1990-9115.7
1991-928.8
1992-9318.7
1993-9413.6
1994-9517.0
1995-9615.0
1996-9710.6
1997-9814.5
1998-9912.9
1999-0015.3
2000-0112.8
2001-0218.1
2002-0318.6
2003-0418.0
2004-0526.9
2005-0631.5
2006-0737.0
2007-0824.4
2008-0922.5
2009-1020.6
2010-1125.7
2011-1231.1
2012-1331.1
2013-1430.1
2014-1530.0
2015-1625.8
2016-1729.0
2017-1836.5
2018-1934.1
2019-2033.3
2020-2124.0
2021-2234.4
2022-2354.5
2023-2454.8

For what this borrowing costs, and how large household credit is against the economy, see borrowing costs and household debt. That page uses a wider count of credit from another source, so its figures differ from these.

What this can and cannot tell you

These are flows, the change in each holding during a year, not the amount households hold. They come from RBI’s Handbook of Statistics, which takes them from the National Accounts Statistics, and the latest year available is 2023-24. The amounts are in rupees of the year and grow with prices, so this page compares shares, which inflation does not change. The nine holdings in RBI’s table add up to its total for every year, within rounding.

Both sides are gross. Financial assets added are not reduced by borrowing. Of every ₹100 of assets added in 2023-24, ₹54.8 was matched by new borrowing, which leaves ₹45.2 added on net.

How this is worked out

Household change in bank deposits as a share of the change in all financial assets, each period's value of the first divided by the second, times 100.

Household change in financial liabilities as a share of the change in financial assets, each period's value of the first divided by the second, times 100.

Where the numbers come from