 "banks, bank rate cuts, lending rates, deposits, savings, investment, schemes, shares, insurance")
Indian households have held on to money and invested it in financial instruments over the past three months as Covid-19 pandemic triggered a nation-wide lockdown in March and brought economic activity to a near standstill, said the latest report by UBS' Tanvee Gupta Jain.
UBS’ analysis suggests that while forced savings could be going up in the formal sector on income continuity, a large chunk of labour employed in the informal sector would have increased precautionary savings despite stagnant / reduced income by lowering consumption. If the situation normalises and sentiment improves, UBS believes, those savings should be spent and
