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LATEST NEWS UPDATES | 88 per cent rural households have savings account: Nabard survey

88 per cent rural households have savings account: Nabard survey

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published Published on Aug 17, 2018   modified Modified on Aug 17, 2018
-PTI

The financial inclusion drive has resulted in proliferation of bank accounts in rural areas with 88.1 per cent of households having savings accounts, said a survey by Nabard.

Incidence of Indebtedness (IOI), which is a proportion of households having outstanding debt on the date of the survey, was 52.5 per cent and 42.8 per cent for agricultural and non-agricultural households, respectively.

All India IOI taking rural households together stood at 47.4 per cent, as per the Nabard All India Financial Inclusion Survey (NAFIS) released today.

"While 88.1 per cent rural households and 55 per cent agricultural households reported having a bank account, average savings per annum per household was Rs 17,488," it said.

About 26 per cent of agricultural households and 25 per cent of non-agricultural households were found to have been covered under insurance, it said.

Similarly, 20.1 per cent agricultural households as against 18.9 per cent non-agricultural householdshave subscribed to pension schemes.

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The Economic Times, 16 August, 2018, https://economictimes.indiatimes.com/news/economy/finance/88-per-cent-rural-households-have-savings-account-nabard-survey/articleshow/65428862.cms


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