HomeNewsBusinessReal EstateHousehold debt doubles in FY23, savings more than halves to 5.15% of GDP

Household debt doubles in FY23, savings more than halves to 5.15% of GDP

According to SBI Research, a good portion of the drawdown from savings have gone to physical assets and of the Rs 8.2 lakh crore increase in household indebtedness in FY23, as much as Rs 7.1 lakh crore accounted for bank borrowings, primarily for home loans and other retail finances.

PTI

September 21, 2023 / 15:41 IST

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Meanwhile, the household debt-to-GDP ratio has increased during the pandemic but has declined thereafter

PTI

first published: Sep 21, 2023 03:41 pm

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Household debt doubles in FY23, savings more than halves to 5.15% of GDP

According to SBI Research, a good portion of the drawdown from savings have gone to physical assets and of the Rs 8.2 lakh crore increase in household indebtedness in FY23, as much as Rs 7.1 lakh crore accounted for bank borrowings, primarily for home loans and other retail finances.

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