TBDC report · 7 November 2026
Indian Financial Habits and How They Have Evolved in the Past 10 Years
How different age groups spend, save, borrow and invest, and how different categories are bought — 2016 to 2026.
India2016–2026155 pagesPublic data research
About the report
Participation expanded faster than protection.
This report examines how India's household financial behaviour changed over a decade. It brings together public data on payments, savings, investments, borrowing, gold, insurance, pensions and consumption.
Its organising thesis: financial infrastructure expanded dramatically, but active participation, financial literacy and financial protection remain uneven.
Selected findings
- UPI transactions grew from 1.79 crore in FY17 to 24,162 crore in FY26, while cash remained significant.
- Net household financial savings were 7.9% of GNDI in FY16 and 7.0% in FY25.
- Gross SIP inflows rose from ₹43,921 crore in FY17 to ₹3,49,589 crore in FY26.
- Bank personal loans grew from ₹13.9 lakh crore in March 2016 to ₹69.4 lakh crore in March 2026.
- Insurance penetration remained below 4% of GDP in FY25.
The report is based on desk research from official statistics, regulators, industry bodies and named publications. It does not use a proprietary household survey. Figures have differing latest available dates; the report identifies these dates and comparability limitations.
What the full report covers
- Household income, spending and consumption patterns.
- Payments, savings, deposits, mutual funds and equity participation.
- Borrowing, household debt, gold and financial protection.
- Differences across generations, gender and geographies.
- Evidence register, methodology, source grades, calculations and appendices.
Research integrity
Facts, TBDC calculations and TBDC interpretations are distinguished. The report includes a data cut-off, evidence grading, methodology, corrections policy and disclaimer.