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Updated: May 19, 2023, 2:29 PM IST
Team Mint

The video sheds light on the evolution of financial… moreThe video sheds light on the evolution of financial services and trends in India. India is currently experiencing a significant shift in its relationship with money as the population invests more in financial assets such as mutual funds, insurance and the stock market. This transformation is being driven by an increase in per capita income and lifestyle improvements, leading to a demand for managed investment solutions with higher after-tax returns. The Covid pandemic has also boosted investor participation in the stock market and insurance, while regulators have developed a more transparent financial ecosystem. Managed investment solutions grow faster than bank deposits, and financial assets (other than bank deposits) are expected to grow ₹ 315 lakh crore in FY27 of current ₹135 lakh crore implying a CAGR of 18% over the next five years. With the financial services industry set to reap the benefits of this shift, the S&P BSE Financials ex Bank 30 Index offers investors an opportunity to gain exposure to the financialization of savings.