4 min read.Updated: 19 Oct 2022, 10:14 AM ISTVivek Kaul
For someone looking to invest indirectly in stocks, it makes more sense to invest in an equity mutual fund and buy a term insurance policy separately.
The Reserve Bank of India (RBI) published household financial savings data based on select indicators last month. Deposits with banks remain the major form of savings in India. As of March 2022, savings held in fixed deposits stood at 48.9% of gross domestic product (GDP). In comparison, savings through life insurance funds and mutual funds (MFs) stood at 22.3% and 9.1% of GDP, respectively.