76.9% of household wealth in India is invested in real estate: RBI report
RBI released a report on household finances which showed that even the poorest of the population keeps its wealth in real estate or gold. According to the report, 76.9% of household wealth in India is invested in real estate. 59% of the poorest 20% in the country own a dwelling unit of some kind or land, the report said.
It was also stated in the report that 11% of all family wealth is invested in gold while 8% of total liabilities in Indian families are in gold loans.
As per the report, 5% of family wealth is in financial assets like cash, bank accounts and pension accounts. 56% of all liabilities of Indian families is made up of unsecured loans. Repayment of mortgages increases with age in India, the report said.