Lok Sabha Question No. 2589 (UNSTARRED), answered on 2026-03-09
Subject: Net Financial Savings and Liabilities of Households
Ministry: FINANCE
Asked by: Shri Pushpendra Saroj, Shri Bapi Haldar, Adv Priya Saroj, Shri Babu Singh Kushwaha, Shri Babu Singh Kushwaha, Shri Babu Singh Kushwaha

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA UNSTARRED QUESTION NO.2589

TO BE ANSWERED ON MONDAY, MARCH 9, 2026/Phalguna 18, 1947 (Saka)

## Net Financial Savings and Liabilities of Households

2589. Shri Bapi Haldar:

Adv Priya Saroj:

Shri Pushpendra Saroj:

Shri Babu Singh Kushwaha:

## Will the Minister of FINANCE

be pleased to state:

- (a)  the  details  of  the  net  household  financial  savings,  liabilities  and  debt-to-income  in  the country  since  the  year  2014,  based  on  Reserve  Bank  of  India  (RBI)  and  National  Saving Scheme (NSS) data, State-wise, year-wise, gender-wise and particularly district-wise for Uttar Pradesh especially Etah, Kasganj and Jaunpur districts;
- (b) the reasons for increasing financial liabilities;
- (c)  the  details  of  demographic  and  income-group  distribution  of  unsecured  borrowing, including youth and first-time borrowers and regional patterns, State-wise, particularly districtwise for Uttar Pradesh especially Etah, Kasganj and Jaunpur districts;
- (d) whether any assessment has been made of the risks of over-indebtedness, rising defaults or financial distress associated with the rapid expansion of digital lending platforms, if so, the details thereof; and
- (e) whether the Government has initiated any regulatory, consumer-protection and financial literacy measures to mitigate the above said risks and promote responsible lending practices, if so, the details thereof along with its impact on semi-urban districts like Etah, Kasganj and Jaunpur?

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY)

- (a) The  data  on  net  household  financial  savings  and  liabilities  sourced  from  the  National Statistical Office (NSO), and debt-to-income based on the RBI Bulletin releases are given in the Table below. The state-wise, year-wise, gender-wise and particularly districtwise  information  for  Uttar  Pradesh,  especially  for  Etah,  Kasganj  and  Jaunpur districts, is not separately maintained by RBI.

| Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   | Household Financial Assets, Liabilities and Debt-to-Income Ratio   |
|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|
|                                                                    | 2014- 15                                                           | 2015 -16                                                           | 2016 -17                                                           | 2017 -18                                                           | 2018 -19                                                           | 2019- 20                                                           | 2020- 21                                                           | 2021- 22                                                           | 2022 -23                                                           | 2023 -24                                                           | 2024- 25                                                           |
| ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       | ₹ Lakh crore                                                       |
| Gross Household Financial Saving                                   | 12.6                                                               | 15                                                                 | 16.1                                                               | 20.6                                                               | 22.6                                                               | 23.2                                                               | 30.7                                                               | 26.1                                                               | 29.8                                                               | 35.8                                                               | 38.3                                                               |
| Household Financial Liabilities                                    | 3.8                                                                | 3.9                                                                | 4.7                                                                | 7.5                                                                | 7.7                                                                | 7.7                                                                | 7.4                                                                | 9                                                                  | 16                                                                 | 18.8                                                               | 15.7                                                               |
| Net Household Financial Saving                                     | 8.8                                                                | 11.1                                                               | 11.5                                                               | 13.1                                                               | 14.9                                                               | 15.5                                                               | 23.3                                                               | 17.1                                                               | 13.9                                                               | 17                                                                 | 22.6                                                               |
| Household Debt@                                                    |                                                                    |                                                                    |                                                                    |                                                                    |                                                                    | 69.9                                                               | 77.7                                                               | 86.2                                                               | 102.2                                                              | 121                                                                | 136.6                                                              |
| As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 | As Per cent of GDP                                                 |
|                                                                    | 2014- 15                                                           | 2015 -16                                                           | 2016 -17                                                           | 2017 -18                                                           | 2018 -19                                                           | 2019- 20                                                           | 2020- 21                                                           | 2021- 22                                                           | 2022 -23                                                           | 2023 -24                                                           | 2024- 25                                                           |
| Gross Household Financial Saving                                   | 10.1                                                               | 10.9                                                               | 10.5                                                               | 12                                                                 | 12                                                                 | 11.6                                                               | 15.4                                                               | 11.1                                                               | 11.4                                                               | 12.3                                                               | 12                                                                 |
| Household Financial Liabilities                                    | 3                                                                  | 2.8                                                                | 3                                                                  | 4.4                                                                | 4.1                                                                | 3.9                                                                | 3.7                                                                | 3.8                                                                | 6.1                                                                | 6.5                                                                | 4.9                                                                |
| Net Household Financial Saving                                     | 7.1                                                                | 8.1                                                                | 7.4                                                                | 7.6                                                                | 7.9                                                                | 7.7                                                                | 11.7                                                               | 7.3                                                                | 5.3                                                                | 5.9                                                                | 7.1                                                                |
| Household Debt (as per cent of GNDI)                               |                                                                    |                                                                    |                                                                    |                                                                    |                                                                    | 34.2                                                               | 38.6                                                               | 36.0                                                               | 38.5                                                               | 41.1                                                               | 42.1                                                               |

@ Household debt data is sourced from RBI Bulletin Table 50 (b), which is available from 2019-20 onwards only.

Note: Figures as per cent to GDP and Gross Net Disposable Income (GNDI) 2022-23 onwards are based on the latest GDP data with revised base year released by the NSO on February 27, 2026. Sources: National Statistical Office (NSO) and RBI.

- (b) Household financial liabilities remained moderate and stable as a share of GDP until 2019-20, followed by a sharp rise during and after the pandemic, peaking in 2023-24, reflecting increased reliance on borrowings. As per the RBI's Financial Stability Report published in December  2023,  this  increase  was  driven  by  a  steep  rise  in  borrowings  from  financial institutions, with a large part resulting in physical asset creation (mortgages and vehicles). In 2024-25, both the absolute level and the share in GDP have declined, indicating early signs of deleveraging.
- (c) The  State-wise,  particularly  district-wise  details  of  demographic  and  income-group distribution of unsecured borrowing, including youth and first-time borrowers and regional patterns, for Uttar Pradesh, including Etah, Kasganj and Jaunpur districts, are not separately maintained by RBI.

(d) As per the Reserve Bank of India's Financial Stability Report, December 2025, retail lending by fintech firms, classified by CRIF High Mark - an RBI-licensed credit information bureau - as NBFCs with digital lending as their core strategic focus, has increased from 7.3 per cent of total NBFC consumer segment loans in September 2023 to 8.9 per cent in September 2025. Over 70 per cent of their loan portfolio comprises unsecured loans, with a significant share extended to borrowers under 35 years of age. The report further notes that the impairment of personal loans in fintech firms' portfolios has declined over the past year even as credit expanded rapidly. However, compared to other NBFCs, impairment in small-ticket loans (up to ₹50,000) has been reported to be relatively higher.

(e) The Reserve Bank of India undertakes various initiatives to enhance awareness about responsible borrowing and credit discipline among the general public. These include the Centre for Financial Literacy (CFL) project, which conducts community-based awareness programmes at the block level; Financial Literacy Centres (FLCs) established by banks at the district  level  that  organise  camps  for  different  target  groups;  dissemination  of  Financial Awareness  Messages  (FAME)  covering  aspects  such  as  credit  discipline  and  responsible borrowing;  and  the  annual  Financial  Literacy  Week  (FLW)  conducted  by  RBI  to  promote financial education among the public.

In the districts of Etah, Kasganj and Jaunpur, 11 CFLs have been set up as on date, which cover awareness  about  responsible  borrowing  in  their  camps.  In  addition,  five  FLCs  have  been established in these districts as on December 31, 2025. Banks have been advised to conduct camps through these FLCs for the general public as well as for different target groups such as farmers, micro and small entrepreneurs, school children, Self Help Groups and senior citizens. These camps cover various aspects of financial literacy.

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