Money9’s independent personal finance survey has revealed that only 3% of Indian families invest in stock markets and just about 6% in mutual funds. The largest share of investment goes into real estate at 18%.
Money9, a digital offering of TV9 Network, recently released the findings of the survey which reveal that despite robust growth in financial inclusion and the burgeoning financial services industry, almost 69% of Indian households struggle due to financial insecurity and vulnerability.
The survey, released on Saturday, maps Indian households’ income, savings, investment, and spending.
It also shares crucial insights into how India earns, spends, and saves. The survey has also unveiled India’s state ranking of citizen financial security, i.e., the Money9 Financial Security Index.
The Money9 Personal Finance Survey is a nationally representative household survey with a sample size of 31,510 households across 1,154 urban wards and villages in 100 districts and 20 states or state groups. The survey was conducted between May and September 2022.
The Money9 Survey has been executed in collaboration with Research Triangle Institute (RTI) Global India, a subsidiary of RTI International (US).
The key survey findings are:
Barun Das, MD and CEO, TV9 Network, said, “The survey findings point to the critical gap between demand and supply side in the personal finance space. The data should help diverse stakeholders quickly refurbish the demand side and at the same time, understand the gap in the supply side. And thus, we would be able to complete our journey of achieving financial security through financial wisdom. Money9 is committed to playing a pivotal role in bringing about this paradigm shift.”
Anshuman Tiwari, Editor, Money9, said, "This survey has thrown up unique and highly valuable insights about the financial security of the masses in India and their income-saving behaviour. We will continue to engage with policymakers and financial service providers to further the objective of financial security.”