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High per capita Savings
• Indian People are good savers. Indian Gross household saving in financial sector is 8% of GDP for the year 2011-12.
• The share of life Insurance premium was 19.9% of gross house hold savings. (Source: RBI Annual Report 2012-13).
• Report on the savings pattern states that:
83% save for emergencies,
81% for Children’s education,
69% for old age,
63% to meet future expenses towards marriages, birth and social ceremonies.