India's Financialisation Accelerates: Savings Shift to Markets as SBI Expands

India's household financial savings are undergoing a structural transformation, with bank deposits now accounting for just 33% of gross financial savings in FY25, down from 52% in the FY71-80 period. Meanwhile, pension funds, mutual funds, shares, and debentures collectively captured 39% of household savings—outpacing bank deposits for the first time. The data, from a Franklin Templeton India report, underscores the...