it was found that almost 60% of them have less than 5,000 in their savings account or emergency fund. The survey revealed shocking results, here are some key findings:
Only 2% of Indian males have more than 5,00,000 in their savings account while for females this percentage is 5%.
68% of Indians with more than 5,00,000 in their savings account or emergency fund live in the North or West of the country.
61% of Indians with more than 5,00,000 in their emergency fund have a Master’s degree or higher.
86% of high school students and college students have less than ₹5,000. For Indians who work full-time, this is only 34%.
35% of married Indians have more than 50,000 in their saving accounts . Among singles, this is only 8% while for Indians who are in a relationship (but not married) this is 12%.
The North of India has more relatively rich people than the other regions.
Almost 90% of Indians who are younger than 18 have less than 25,000 in their emergency fund.