Net financial savings may hit ₹22 lakh crore

Kolkata

India’s household net financial savings may reach ₹22 lakh crore in 2024–25, according to a new research report from the State Bank of India (SBI). This would represent 6.5% of the country’s Gross National Disposable Income (GNDI), up from 5.1% in 2023–24 and 4.9% the year before.

The report highlighted that this rising savings trend is important for funding both government and corporate deficits. A larger capital pool also helps maintain macroeconomic stability.

The report also discussed the Reserve Bank of India’s (RBI) role in managing currency volatility. It noted that the RBI’s balance sheet grew by 8.19% during 2024–25, which is slightly lower than the nominal GDP growth of 9.9%.

A major highlight in the fiscal year was the RBI transferring ₹2.69 lakh crore as surplus to the central government. This move is expected to boost fiscal space and give the government more flexibility in spending and development programs.

SBI’s report also pointed out that while fraud cases decreased, the total defrauded amount tripled to ₹36,014 crore. On the positive side, digital frauds like those through cards and the internet fell sharply—from 29,802 cases in 2023–24 to 13,516 in 2024–25.

The report concluded that India’s financial system is now at a turning point. Despite challenges, it remains strong and is undergoing major positive changes that could benefit the economy over the long term.