With 47% below 35 years of age, banks gear up for 'millennial' account

Millennials constitute 47% of the country's working population and will be the primary contributors to economic growth

With two-thirds of the population below the age of 35, financial institutions like insurance companies and mutual fund are on the cusp of a great opportunity to pool-in “millennial” savings on the one hand and offer insurance and investment options in return. 

Millennials constitute 47 per cent of the country’s working population and will be the primary contributors to economic growth whether as consumers, entrepreneurs or investors.  However, in the interest of capitalising on this insurance companies need to become more flexible and adaptive to the needs of this generation of customers, recommends a report by ASSOCHAM and IndiaFirst Life