MUMBAI: Reserve Bank Deputy Governor Michael Debabrata Patra on Tuesday said domestic saving has largely financed the investment needs of the economy and will remain the top net lender in coming decades.
In a keynote address at the Financing 3.0 Summit: Preparing for Viksit Bharat organised by the Confederation of Indian Industries (CII) here, the Deputy Governor said that recently, the net financial savings of households has almost halved from 2020-21 levels due to behavioural changes in the form of unwinding of prudential savings accumulated during the pandemic and shifting from financial assets to physical assets like housing.
