Updated: May 19, 2023, 02:29 PM IST
team mint
The video highlights the evolution of finance … MoreThe video highlights the evolution of financial services and trends in India. India is currently experiencing a significant change in its relationship with money as the population moves towards investing in financial assets such as mutual funds, insurance and the stock market. This change is driven by increase in per capita income and improvement in lifestyle, thereby increasing the demand for managed investment solutions with higher post-tax returns. The COVID pandemic has also boosted investor participation in the stock market and insurance, while regulatory bodies have developed a more transparent financial ecosystem. Managed investment solutions are growing faster than bank deposits, and are expected to reach financial assets (other than bank deposits) ₹315 lakh crore in FY27 from present ₹135 lakh crore, implying a CAGR of 18% over the next five years. With the financial services sector poised to benefit from this change, the S&P BSE Financials Ex-Bank 30 Index offers investors an opportunity to gain exposure to the financialization of savings.