New Delhi, Sept. 6 -- India's savings story has changed sharply over the past decade. While bank deposits remain the largest single destination, retirement-oriented and market-linked products together now account for a bigger share of household financial savings.

According to Franklin Templeton India Mutual Fund's report titled "Financialization of Savings in India - From Safety to Scale", India's financialisation journey is improving but remains in its early stages.

Bank deposits accounted for 52% of gross financial savings during FY71-80 (1971-72 to 1979-80). By FY25, their share had fallen to 33%.

Meanwhile, mutual funds, shares and debentures rose from 0% to 18%. Their share increased from 4% in FY21 to 11% in FY24 and 18% in FY25....