New Delhi, May 12 -- Understanding household saving behaviour is essential to evaluate a country's financial resilience and potential for inclusive growth. Savings not only provide a safety net for individuals, but also fuel investment and stabilize consumption-vital functions in an emerging economy like India.

Although macroeconomic data from institutions such as the Reserve Bank of India and the ministry of statistics and programme implementation offers national-level estimates of household financial savings, they primarily capture formal instruments like bank deposits, insurance and pension funds. This narrow scope fails to reflect informal savings, which characterize much Indian household behaviour.

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