The RBI’s July Bulletin notes that deposits are India’s preferred savings method, with market instruments gaining traction. Prakash et al. detail financial assets/liabilities and net wealth from 2011-12 to 2022-23, which surged during the pandemic and normalized by March 2023. Listed equity peaked end-Dec 2021. By end-March 2023, financial assets were 135% GDP, liabilities 37.8%, net wealth 97.2%.
