Low-interest rates prompted households to shift to physical assets: SBI Research
The net financial savings of the household sector moderated to 5.1 per cent of GDP in 2022-23 from 11.5 per cent in 2020-21 and 7.6 per cent from pre-pandemic 2019-20.
A low-interest rate regime in India during the pandemic resulted in a "paradigm shift" of households' savings from financial to physical assets, image credit: Reuters