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Volume 5

FOR PRIVATE CIRCULATION ONLY

December 2014

INDIA
WEALTH REPORT
2014
Reforming to Perform

FDI

Is your wealth favourably aligned to the overall Indian & Global Trends?

Foreword
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Contents
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List of Tables
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Executive Summary
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WKH IDVWHVW JURZLQJ HFRQRPLHV LQ WKH ZRUOG 6HYHUDO QHZ SROLF\ PHDVXUHV OLNH 0DNH LQ ,QGLD
GHYHORSPHQWRI6PDUW&LWLHVRSHQLQJXSRI)',LQVHYHUDOVHFWRUV)UHHSULFLQJRI$XWR)XHOV
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,QGLDVYLFLRXVHFRQRPLFF\FOHEHWZHHQRIVORZLQJJURZWKHOHYDWHGWZLQGHFLWVDQG
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ZLOOEHFRPHWKHVLQJOHODUJHVWDVVHWFODVVFRQWULEXWLQJWRLQGLYLGXDOZHDOWKLQ,QGLDLQ\HDUHQGLQJ
0DUFKDQGLVOLNHO\WRUHPDLQWKHUH:HH[SHFWD&$*5RQWKHHTXLW\PDUNHWVDQGORRN
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JLYHV DQ LQGLFDWLRQ RI KRZ ZHDOWK ZLOO JURZ ZKHQ WKH ,QGLDQ (FRQRP\ GRHV ZHOO LQ WKH QH[W 
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LQ:LWKWKHWXUQDURXQGFRPLQJDERXWLQWKHHFRQRP\ZHH[SHFWWKLVUDWLRWRUHWXUQ
WRLQWKHQH[W\HDUV

Global Individual Wealth


*OREDO3ULYDWH)LQDQFLDO:HDOWKVWRRGDW86WULOOLRQPDUNLQJDJURZWKE\DVFRPSDUHG
to 20121,QDEVROXWHWHUPV1RUWK$PHULFDVWRRGDW86WULOOLRQIROORZHGE\:HVWHUQ(XURSHDW
86WULOOLRQDQGUHPDLQHGWKHZHDOWKLHVWUHJLRQVLQWKHZRUOG$VLD3DFLFUHJLRQH[FOXGLQJ
-DSDQVWRRGFORVHO\WR:HVWHUQ(XURSHDW86WULOOLRQ2
7KH$VLD3DFLFUHJLRQUHSUHVHQWHGWKHIDVWHVWJURZLQJUHJLRQZRUOGZLGHZLWKWKH+1,SRSXODWLRQ
LQFUHDVLQJE\DQGWKHZHDOWKLQFUHDVLQJE\FRQWLQXLQJWKHWUHQGRIKLJKJURZWKLQWKH
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Individual Wealth in India


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DVVHWFODVVHVLQZKLFKLQYHVWPHQWVDUHPDGHE\LQGLYLGXDOV,WGRHVQRWFRQVLGHUJRYHUQPHQWDQG
LQVWLWXWLRQDOKROGLQJV,QWKLVUHSRUW)LQDQFLDODVVHWVDQG3K\VLFDODVVHWVZKHUHLQYHVWPHQWVDUH
PDGHE\LQGLYLGXDOVRI,QGLDDUHFRQVLGHUHG
7KHWRWDO,QGLDQ,QGLYLGXDOZHDOWKLQ)LQDQFLDODVVHWVVWDQGVDW`/DNK&URUHLQ)<DQG
,QGLDQ,QGLYLGXDO:HDOWKLQ3K\VLFDO$VVHWV 5HDO(VWDWHDQG3UHFLRXVPHWDOVOLNH*ROG'LDPRQG
6LOYHUDQG3ODWLQXP VWDQGVDW`/DNK&URUH+HQFHWKHWRWDO,QGLDQ,QGLYLGXDO:HDOWKLQ
)<LVHVWLPDWHGWREHDW`/DNK&URUHDQLQFUHDVHRIRYHU)<
)LQDQFLDOZHDOWKFRQWULEXWHVDERXWDQG3K\VLFDOZHDOWKFRQWULEXWHVDERXWWRWKH
WRWDO,QGLDQ,QGLYLGXDO:HDOWK

Table 1: Total Individual Wealth in India 2014


Asset Type

FY14 (` Cr.)

Proportion (%)

)LQDQFLDO





Physical





Total

2,57,41,664

100.00

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DFFRXQWRIWKHFXUEVLPSRVHGRQLW




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UHVLGHQFHFROOHFWLEOHVFRQVXPDEOHVDQGFRQVXPHUGXUDEOHV

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Assets
Asset Type
)L[HG'HSRVLWVDQG%RQGV
'LUHFW(TXLW\
,QVXUDQFH
6DYLQJV'HSRVLWV
Cash
3URYLGHQW)XQG
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Total

Amount (` Cr.)













1,34,71,160

Proportion (%)













100.00

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/DNK&URUHZKLFKLVJURZWKRI
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HTXLW\ZKLFKFRPHVDFORVHVHFRQGDWWUDFWLQJRIWRWDO,QGLYLGXDOZHDOWKLQQDQFLDODVVHWV
IROORZHGE\,QVXUDQFHDQG6DYLQJV'HSRVLWV
7KH KLJK PLQLPXP WLFNHW VL]H QHHGHG IRU DOWHUQDWLYH LQYHVWPHQWV NHHSV WKHLU SURSRUWLRQ LQ WKH
QDQFLDO$VVHWVSLHYHU\VPDOO3HQVLRQ)XQGVDUHUHODWLYHO\QHZLQWKHPDUNHWDQGDUHH[SHFWHG
WR JURZ DW D UDSLG SDFH VLQFH WKH\ LQYHVW LQ ERWK HTXLW\ DQG JRYHUQPHQW ERQGV DQG DUH WKXV
H[SHFWHGWRJLYHKLJKHUUHWXUQVWKDQSURYLGHQWIXQG

Figure 1: Asset-Wise Distribution of Individual Wealth in India (Financial


Assets)
Pension Funds
Current Deposits
International
0.36%
2.29% Mutual
Financial Assets
0.09%
Funds Alternative Assets
Small Savings
0.18%
2.92%
4.30%
NRI Deposits
4.62%
Fixed Deposits

Provident Fund
5.46%

and Bonds
21.82%

Cash
9.66%
Equity
19.79%

Saving Deposits
12.09%
Insurance
16.43%

7DEOH&ODVVLFDWLRQRI,QGLYLGXDO:HDOWKLQ,QGLDLQ3K\VLFDO$VVHWV
Asset Type

Proportion (%)

Amount (` Cr.)

*ROG





Real Estate





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1,22,70,501

100.00

3ODWLQXP
Total

Figure 2: Assets Wise Distribution of Individual Wealth in India (Physical


Assets)
Silver
1.59%

Platinum
0.05%

Diamond
6.33%

Real Estate
41.07%

Gold
50.96%

,QGLYLGXDO ZHDOWK LQ 3K\VLFDO$VVHWV VWDQGV DW ` /DNK &URUH7KH LQGLYLGXDO ZHDOWK LQ JROG
VWDQGVDWDZKRSSLQJ`/DNK&URUHVKRZLQJ,QGLDVDIQLW\WR\HOORZPHWDO
,QYHVWPHQWLQ5HDO(VWDWHVWDQGVDW`/DNK&URUHH[FOXGLQJSULPDU\UHVLGHQFH*ROGDQG
5HDO(VWDWHIRUPDEXONRISK\VLFDOZHDOWKLQ,QGLDLH,QWKLVUHSRUWZHKDYHDOVRDGGHGWKH
ZHDOWKKHOGE\,QGLYLGXDOVLQ'LDPRQG6LOYHUDQG3ODWLQXP

7DEOH&ODVVLFDWLRQRI,QGLYLGXDO:HDOWKLQ,QGLDLQ.H\$VVHW
Classes
.H\$VVHW&ODVVHV
(TXLW\

Proportion (%)









$OWHUQDWLYH$VVHWV LQFOXGLQJ*ROGDQGRWKHU
SUHFLRXVPHWDOVDQGJHPV LQSK\VLFDOIRUP





Real Estate





2,57,41,661

100.00

'HEW LQFOXGLQJ&DVK

Total

Amount (` Cr.)

Section 1:
Global Individual Wealth
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Figure 3: Global Individual Financial Wealth

USD Trillions

198.2
200.0
180.0
160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0

152.0
121.4

2010

122.0

2011

132.7

2012

2013

2018E

 1HZ:RUOGUHJLRQV5'(V5DSLGO\'HYHORSLQJ(FRQRPLHVLQFOXGH$VLD3DFLFUHJLRQH[FOXGLQJ-DSDQ(DVWHUQ(XURSH
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Figure 4:

Figure 5:

Number of HNIs Globally

Global HNI Wealth Allocation


Africa
2% Latin america
4%

Africa Latin America


Middle East
1%
4%
4%

Middle East
15%

North America
28%

North America
32%

Europe
28%

Asia-Pacific
31%

Europe
24%
Asia-Pacific
27%

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:RUOG:HDOWK5HSRUW3DJH &DSJHPLQL5%&:HDOWK0DQDJHPHQW

Figure 6: Forecast of Global HNI Financial Wealth

Source: World Wealth Report 2014, Page 9, Figure 6, Capegemini and RBC Wealth Management

7DEOH&ODVVLFDWLRQRI:HDOWK*OREDOO\LQ.H\$VVHW&ODVVHV
.H\$VVHW&ODVVHV

Global (%)

(TXLW\



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$OWHUQDWH$VVHWV LQFOXGLQJ*ROGDQGRWKHUSUHFLRXV
PHWDOVDQGJHPV 



Real Estate



Total

100.00

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DOWHUQDWHDVVHWVJUHZWRDVFRPSDUHGWRLQ

Section 2:
Indian Economic Scenario
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FRPPRGLWLHVFRPLQJGRZQJOREDOO\WKH&$'LVH[SHFWHGWREHQHJOLJLEOH
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7KXVZHFDQVHHWKDW,QGLDQ(FRQRP\VHHPVWRKDYHERWWRPHGRXWLQ)<DQGLVH[SHFWHGWR
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Section 3:
Individual Wealth in India
7KHWRWDO,QGLDQ,QGLYLGXDOZHDOWKLQ)LQDQFLDO$VVHWV
VWDQGV DW ` /DNK &URUH DV LQ )< ZKHUHDV
,QGLDQ ,QGLYLGXDO :HDOWK LQ 3K\VLFDO $VVHWV 5HDO
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)LQDQFLDOZHDOWKFRQWULEXWHVDERXWDQG3K\VLFDOZHDOWKFRQWULEXWHVDERXWWRWKH
WRWDO,QGLDQ,QGLYLGXDOZHDOWK

Table 6: Total Individual Wealth in India in 2014


Asset Type

FY14 (` Cr.)

Proportion (%)

)LQDQFLDO





Physical





Total

2,57,41,661

100.00

Figure 8: Compostion of Indian Individual Wealth

Physical
48%

Financial
52%

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WRLQ:LWKWKHWXUQDURXQGFRPLQJDERXWLQWKHHFRQRP\ZHH[SHFWWKLVWRUHWXUQWR
LQWKHQH[W\HDUV

10

Section 4:
Asset wise break up of
Individual Wealth held in
Financial Assets
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x
x
x
x
x
x
x

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Cash
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4.1 Fixed Deposits & Bonds


)L[HGGHSRVLWVKDYHDOZD\VEHHQFRQVLGHUHGDVHVVHQWLDOFRPSRQHQWRIDQRSWLPXPSRUWIROLR
$[HGGHSRVLWSD\VD[HGUDWHRILQWHUHVWXQWLODJLYHQPDWXULW\GDWH)L[HGGHSRVLWVDUHDOVR
NQRZQDV7HUPGHSRVLWVDQGHDUQDKLJKHUUHWXUQDVFRPSDUHGWRWKHLQWHUHVWUDWHVRIIHUHGE\
VDYLQJVDFFRXQW)L[HG'HSRVLWVDUHRQHRIWKHPRVWWUDGLWLRQDOIRUPRIVDYLQJVLQ,QGLDDQGKHQFH
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)L[HG'HSRVLWV )'V FRPSULVHVRI
x
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x


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QDQFLDO FRPSDQLHV  DQG 51%& 5HVLGXDU\ 1RQ %DQNLQJ
&RPSDQLHV

Bank Fixed Deposits:


%DQN)L[HGGHSRVLWVKDYHWUDGLWLRQDOO\EHHQRQHRIWKHPRVWSRSXODULQYHVWPHQWWRROXVHGE\D
YDVWVHFWLRQRIVRFLHW\DFURVVDOOHFRQRPLF]RQHV%DQN)L[HG'HSRVLWVFRPSULVHVRI'HSRVLWV
ZLWK6FKHGXOH&RPPHUFLDO%DQNVDQG6FKHGXOH&RRSHUDWLYH%DQNV
7KHWRWDOGHSRVLWVZLWKDOOVFKHGXOHEDQNVVWRRGDW`/DNK&URUHDPRXQWLQJWRDQLQFUHDVH
RI  RYHU WKH ODVW \HDU 7KH DJJUHJDWH GHSRVLWV ZLWK 6FKHGXOH &RPPHUFLDO %DQNV DOVR
LQFUHDVHGWRRYHUWKHODVW\HDUDQGVWRRGDWDWRWDOYDOXHRI`/DNK&URUH137KH
LQFUHDVHLQGHSRVLWVLVPDLQO\GXHWRDULVLQJWUHQGREVHUYHGLQWKHWHUPGHSRVLWVZKHQWKHHFRQRP\
ZDVQRWGRLQJYHU\ZHOOFRQVLGHULQJWKDW%DQN)'VDUHFRPSDUDWLYHO\YHU\VDIHLQVWUXPHQWV7KH
KRXVHKROGVHFWRULVWKHODUJHVWFRQWULEXWRUWRWKHVHGHSRVLWVDVFRPSDUHGWRSXEOLFDQGSULYDWH
sectors14
Individual Wealth held in Bank FDs stands at `27.91 Lakh Crore in FY14 and has grown by
DVFRPSDUHWR)<
5%,

11

Table 7: Composition of Individual Wealth in Bank Fixed Deposits


Bank Category

YOY Change (%)

Amount (` Cr.)

6FKHGXOH&RPPHUFLDO%DQNV





6FKHGXOH&RRSHUDWLYH%DQNV





27,91,256

17.14

Total

Corporate Fixed Deposits:


&RUSRUDWH )L[HG 'HSRVLWV DOVR NQRZQ DV &RPSDQ\ )L[HG 'HSRVLWV DUH LQYHVWPHQW RSWLRQV
RIIHUHG E\ FRPSDQLHV WKH\ HDUQ D [HG UDWH RI UHWXUQ RYHU D SHULRG RI WLPH 7KH UHWXUQV DUH
JHQHUDOO\KLJKHUWKDQ%DQN)'VDQGWKXV&RUSRUDWH)'VDUHFRQVLGHUHGDVDOXFUDWLYHLQYHVWPHQW
RSWLRQ +RZHYHU WKHVH DUH FRQVLGHUHG D ELW ULVN\ DV DQ LQYHVWRU FDQQRW HDVLO\ UHFRYHU KLVKHU
LQYHVWHGDPRXQWLIWKHFRPSDQ\GHIDXOWV
The Individual Wealth in Corporate Fixed Deposits in the FY14 is about `67,676 Crore a
GHFOLQHRIDVFRPSDUHGWR)<7KLVVKDUSGHFOLQHLVGXHWRWKHIDFWWKDWPDQ\XQUDWHG
FRPSDQLHV PRVWO\ PDQXIDFWXULQJ DQG UHDO HVWDWH FRPSDQLHV VWRSSHG DFFHSWLQJ RU UHQHZLQJ
GHSRVLWVDIWHU$SULODIWHUWKHSURYLVLRQRIWKH1HZ&RPSDQLHV$FWFDPHLQWRIRUFH$FFRUGLQJ
WRWKHQHZDFWFRPSDQLHVZLOOKDYHWRSDVVDUHVROXWLRQDWWKHLU$*0SURYLGHIRUVHFXULW\RQWKHLU
[HGGHSRVLWVDQGJHWUDWHGEHIRUHWKH\FDQVWDUWFROOHFWLQJPRQH\IURPLQYHVWRUV

NBFC Deposits:
1RQ%DQNLQJ)LQDQFLDO&RPSDQLHV 1%)&V DUHHQJDJHGLQSURYLGLQJDUDQJHRIYDULHGQDQFLDO
VHUYLFHVDVSDUWRIWKH,QGLDQQDQFLDOV\VWHP1%)&VDUHLQFRUSRUDWHGXQGHUWKH&RPSDQLHV
$FW1%)&VFDQEHFODVVLHGLQWRWZREURDGFDWHJRULHVYL]
(i) N%)&VDFFHSWLQJSXEOLFGHSRVLW 1%)&V' DQG
(ii) 1%)&VQRWDFFHSWLQJKROGLQJSXEOLFGHSRVLW 1%)&V1' 
5HVLGXDU\ 1RQ%DQNLQJ &RPSDQLHV 51%&V  DUH DQRWKHU FDWHJRU\ RI 1%)&V ZKRVH SULQFLSDO
EXVLQHVVLVDFFHSWDQFHRIGHSRVLWVDQGLQYHVWLQJLQDSSURYHGVHFXULWLHV
'HSRVLWVZLWK1%)&VHFWRUVFRPSULVHRILQYHVWPHQWVLQ[HGGHSRVLWVRIGHSRVLWVWDNLQJ1%)&V
DQG51%&V

7DEOH &RPSRVLWLRQRIDVVHWVLQ1%)&VDQG51%&V
Types of NBFCs

FY14 (` Cr.)

'HSRVLWWDNLQJ1%)&





51%&









Total Individual Deposits

12

FY13 (` Cr.)

3XEOLF'HSRVLWVZLWK1RQ%DQNLQJ)LQDQFH&RPSDQLHV 1%)&V LQFUHDVHGE\LQ)<


DVFRPSDUHGWRWKDWRI)<7KLVLQFUHDVHLVPDLQO\GXHWRLQFUHDVHLQWKHGHSRVLWVWDNHQE\
WKH GHSRVLW DFFHSWLQJ 1%)& %HVLGHV RIIHULQJ DWWUDFWLYH GHSRVLWV DV FRPSDUHG WR WKDW RI WKH
EDQNV WKH SXEOLF FRQGHQFH LQ 1%)&V LV LQFUHDVLQJ RQ DFFRXQW RI VWURQJ &UHGLW UDWLQJV DQG
VWURQJPDQDJHPHQWEDFNLQJWKHVH1%)&V'HSRVLWVWDNHQE\51%&V 5HVLGXDU\1RQ%DQNLQJ
&RPSDQLHV LQWKH)<GHFUHDVHGDVFRPSDUHGWR)<7KLVLVEHFDXVHJLYHQWKHUHJXODWRU\
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FRPSDQLHV QHHG WR UHGXFH WKHLU DJJUHJDWH OLDELOLWLHV WR WKH GHSRVLWRUV WR QLO E\ -XQH  

Bonds and Debentures:


7KH'HEWPDUNHWLQ,QGLDFRPSULVHVRI*RYHUQPHQW
'HEW 6HFXULWLHV DQG &RUSRUDWH 'HEW 6HFXULWLHV
*RYHUQPHQW 'HEW 6HFXULWLHV FRQVLVWV RI WUHDVXU\
ELOOV &HUWLFDWH RI GHSRVLWV &RPPHUFLDO SDSHUV
HWF&RUSRUDWHFDQUDLVHPRQH\E\LVVXLQJDERQG
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*RYHUQPHQW'HEWVHFXULWLHVDQGSULYDWHSODFHPHQW
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IRUDFFHSWLQJLQYHVWPHQWVWKURXJKUHWDLOLQYHVWRUV

Figure 9:
Composition of Individual
Wealth in Fixed Deposits

Corporate FDs
2%

NBFC Deposits
1%

3XEOLFSODFHPHQWFDQEHXQGHUWDNHQE\WKH368V
3XEOLF6HFWRU8QGHUWDNLQJ DQGWKHVHDUHNQRZQ
DV368ERQGVRUE\SULYDWHFRPSDQLHVZKLFKDUH
NQRZQ DV &RUSRUDWH %RQGV RU 1RQ &RQYHUWLEOH
'HEHQWXUHV
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FRPSDQLHV PRVWO\ 1%)&V DUH EHWWHU UDWHG DQG
KDYH VWURQJ PDQDJHPHQW ZKLFK LQFUHDVHV WKH
LQYHVWRUFRQGHQFH

Bank FDs
97%

7KHWRWDO$VVHW8QGHU0DQDJHPHQWRI%RQGVDQG'HEHQWXUHVDVRIst0DUFKVWDQGVDW
`&URUH2XWRIWKLVLQGLYLGXDOSDUWLFLSDWLRQDPRXQWVWR`&URUHDQLQFUHDVH
of 66.41% over the FY13.
PSU Bonds: ,VVXHGE\YDULRXV3XEOLF6HFWRU8QGHUWDNLQJVWRWDO$VVHW8QGHU0DQDJHPHQWRI
368ERQGVLV`&URUHDVRIst0DUFK7KHVH368ERQGVLQFOXGHWD[DEOHDQGWD[
IUHHERQGVThe estimated individual wealth in these bonds is `54,300 Crore.
Corporate Bonds: ,VVXHGE\1RQ368FRPSDQLHVWRWDODVVHWXQGHUPDQDJHPHQWRI&RUSRUDWH
%RQGVLV`&URUH7KHHVWLPDWHGLQGLYLGXDOZHDOWKLQWKHVHQRQFRQYHUWLEOHGHEHQWXUHV
is `13,637 Crore.

 5%,
6(%,

13

Table 9: Composition of total and Individual Wealth in Bonds and


Debentures
Individual Wealth in
FY13 (` Cr.)

6HFWRU
368
&RUSRUDWH
Total

Individual Wealth in
FY14 (` Cr.)

YOY Change (%)















67,937

66.41

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$EKL\DQ KDV EHHQ ODXQFKHG E\ WKH QHZ JRYHUQPHQW +HQFH PRUH DQG PRUH  GRPHVWLF  DQG
LQWHUQDWLRQDOLQYHVWRUVDUHJHWWLQJFRQYLQFHGDERXWWKH,QGLDVWRU\/RRNLQJDWWKHFXUUHQW
PDFURWUHQGVFRROLQJFRPPRGLW\SULFHVJRYHUQDQFHUHIRUPVDQGUHYLYDOLQJURZWKVHQVH[LV
H[SHFWHGWRUHDFKE\
,QGLYLGXDOZHDOWKLQ)<HTXLW\LQFUHDVHGE\ZKLFKLVSHUFHQWDJHSRLQWVOHVVWKDQWKH
 LQFUHDVH LQ PDUNHW FDSLWDOL]DWLRQ LQGLFDWLQJ WKDW GHVSLWH WKH EXOO UXQ LQGLYLGXDO LQYHVWRUV
ZHUH VORZ WR WKH SDUW\ DQG ),,V HQMR\HG WKH EXON RI WKH EHQHWV ,QGLYLGXDO ZHDOWK RI UHVLGHQW
,QGLDQV VWRRG DW ` ODNK FRUHV$ 1RQ5HVLGHQW ,QGLDQ FLWL]HQ 15,  FDQ LQYHVW LQ ,QGLDV
VWRFNPDUNHWXQGHU3,6 3RUWIROLR,QYHVWPHQW6FKHPH ZKLFKLVUHJXODWHGE\5HVHUYH%DQNRI
,QGLD7KHZHDOWKKHOGE\15,VLQ,QGLDQVWRFNPDUNHWVWDQGVDW`&URUH

7DEOH 'LUHFW(TXLW\&ODVVLFDWLRQ
Investors
3URPRWHU+ROGLQJ
,QVWLWXWLRQV
,QGLYLGXDO,QYHVWRUV
Total

% of Market Capitalization
50
33

100

Amount (` Cr.)



72,77,719

7KHWRWDOLQGLYLGXDOZHDOWKLQHTXLW\LQYHVWPHQWVVWDQGVDW`26.6 Lakh Crore.


7KHWRWDOLQGLYLGXDOZHDOWKLVWKHVXPRI'LUHFW(TXLWLHVSXUFKDVHGE\,QGLYLGXDO,QYHVWRUV `
/DNK&URUH DQGWKHSURPRWHU+ROGLQJVRI,QGLYLGXDOEXVLQHVV:KLOH'LUHFW(TXLW\IRUPVWKHQG

 15,1RQ5HVLGHQW,QGLDQLVDQ,QGLDQFLWL]HQUHVLGLQJRXWVLGH,QGLDDFFRUGLQJWR)(0$

14

ODUJHVWDVVHWFODVVDPRQJWKHYDULRXVLQGLYLGXDODVVHWFODVVHVLWORRNVWRRYHUWDNH)L[HG'HSRVLWV
%RQGVLQ)<WREHFRPHWKHODUJHVWDVVHWFODVV'LUHFW(TXLW\FRQWULEXWHVRIWKHWRWDO
,QGLYLGXDO:HDOWKLQQDQFLDODVVHWVDQGLVWKHQGODUJHVWDVVHWFODVVDIWHU)L[HG'HSRVLWVDQG
%RQGV

,QVXUDQFH
:LWK  &URUH SROLFLHV ,QGLDV OLIH LQVXUDQFH LQGXVWU\ LV WKH ODUJHVW LQ WKH ZRUOG 'HVSLWH WKLV
,QGLDFRQWLQXHVWREHXQGHULQVXUHG/LIHLQVXUDQFHSHQHWUDWLRQLQWKHFRXQWU\WKHUDWLRRISUHPLXP
XQGHUZULWWHQLQD\HDUWRWKH*URVV'RPHVWLF3URGXFW *'3 ZDVMXVWDURXQG,WLVIRUHFDVW
WR JURZ DW D &RPSRXQGHG$QQXDO *URZWK 5DWH &$*5  RI  RYHU WKH QH[W YH \HDUV
$VVHWV8QGHU0DQDJHPHQW $80 RIOLIHLQVXUHUVZLOODOPRVWWUHEOHWR20WULOOLRQ QHDUO\`/DNK
&URUH E\IURPWKHFXUUHQW`/DNK&URUHDFFRUGLQJWRSURMHFWLRQVE\WKH/LIH,QVXUDQFH
&RXQFLO
7RWDO,QGLYLGXDO:HDOWKLQ,QVXUDQFHVWDQGVDW`22.12 Lakh Crore.

7DEOH $VVHWV,Q,QVXUDQFH
7\SHRI,QVXUDQFH
/LIH,QVXUDQFH
(PSOR\HHV3HQVLRQ)XQG
(PSOR\HHV'HSRVLW/LQNHG,QVXUDQFH)XQG
7RWDO,QGLYLGXDO:HDOWKLQ,QVXUDQFH

FY14 (` Cr.)

FY13 (` Cr.)




22,12,654






YOY Growth (%)







:HFDQVHHIURPWKHWDEOHDERYHWKDW$80LQWKH/LIH,QVXUDQFHKDVJURZQE\WR`
/DNK&URUH

(PSOR\HHV3HQVLRQ)XQG
(PSOR\HHV3HQVLRQ)XQGLVDUHWLUHPHQWEHQHWVFKHPHWKDWLVDYDLODEOHWRDOOVDODULHGHPSOR\HHV
,WLVDYHU\LPSRUWDQWWRRORIUHWLUHPHQWSODQQLQJ7KHWD[IUHHLQWHUHVW FRPSRXQGLQJ DWPDWXULW\
HQVXUHVDJRRGJURZWKRIPRQH\
7KHWRWDOZHDOWKLQ(PSOR\HHV3HQVLRQ)XQGVWDQGVDW`/DNKFURUHXSIURP)<

(PSOR\HHV'HSRVLW/LQNHG,QVXUDQFH)XQG (',/ 
7KH SXUSRVH RI WKLV VFKHPH LV WR SURYLGH OLIH LQVXUDQFH EHQHWV WR WKH HPSOR\HHV RI
HVWDEOLVKPHQWV FRYHUHG XQGHU (3)$&7  7KH HPSOR\HU FRQWULEXWHV  RI %DVLF  '$
DQGQRFRQWULEXWLRQLVPDQGDWRU\IRUWKHHPSOR\HHEXWKHVKHFDQYROXQWDULO\FRQWULEXWHZLWKD
PD[LPXPOLPLWRI`RQ%DVLF'$7KHPD[LPXPEHQHWXQGHUWKLVVFKHPHLVRI`
7KH WRWDO ZHDOWK LQ (PSOR\HHV 'HSRVLW /LQNHG ,QVXUDQFH )XQG VWDQGV DW ` &URUH
,QVXUDQFH&RQVWLWXWHVRI,QGLYLGXDO)LQDQFLDO:HDOWKLQ,QGLDLQ)<

 ,5'$
 /LIHLQVXUDQFHFRXQFLO

15

4.4 Saving Deposits


'HPDQG'HSRVLWVFRQVLVWRI&XUUHQWDQG6DYLQJV'HSRVLWV7KH,QGLYLGXDOZHDOWKLQ'HPDQG
'HSRVLWVVWDQGVDW`/DNK&URUH

Savings Bank Deposits:


The Individual wealth in Savings Deposits stands at `/DNK&URUHDVRQst0DUFK
2014, marking a growth of 7.96% over FY13.7KLVLQFUHDVHLVKRZHYHUOHVVDVFRPSDUHGWR\HDU
RQ\HDULQFUHDVHLQ)<ZKLFKZDVDERXWDVFRPSDUHGWRWKH)<$VVDYLQJGHSRVLWV
RIIHU OHVVHU UDWH RI LQWHUHVW WKDQ WHUP GHSRVLWV WKH WRWDO LQYHVWPHQWV LQ VDYLQJV GHSRVLWV RI DOO
6FKHGXOHGEDQNVKDVUHPDLQHGFRQVWDQWRYHUWKH\HDUV7KHVKDUHRI6DYLQJGHSRVLWVGHFOLQH
IURPLQWR21LQLQFUHDVHGVRPHZKDWWRLQDIWHUZKLFKLWKDV
PRUHRUOHVVUHPDLQFRQVWDQW

Table 12: Composition of Individual Wealth in Bank Savings Deposits


Bank Category

Amount (` Cr.)

6FKHGXOH&RPPHUFLDO%DQNV



6FKHGXOH&RRSHUDWLYH%DQNV




Total

Current Bank Deposits:


,QGHSRVLWWHUPLQRORJ\WKHWHUP&XUUHQW'HSRVLWUHIHUVWRDGHSRVLWWRDEDQNDFFRXQWRUQDQFLDO
LQVWLWXWLRQZLWKRXWDVSHFLHGPDWXULW\GDWHThe Individual wealth in Current Deposits stands
at `/DNK&URUH7KHUHLVDQLQFUHDVHRILQWKLVDVFRPSDUHGWR)<

Table 13: Composition of Individual Wealth in Current Bank Deposits


Bank Category

Amount (` Cr.)

6FKHGXOH&RPPHUFLDO%DQNV



6FKHGXOH&RRSHUDWLYH%DQNV




Total

Table 14: Composition of Individual Wealth in different types of Bank


Deposits
Type of Deposits

FY14 (` Cr.)

YOY Change (%)

7HUP'HSRVLWV







6DYLQJV'HSRVLWV







&XUUHQW'HSRVLWV







 5%,



FY13 (` Cr.)

5HJLRQDO'LVWULEXWLRQRI,QGLYLGXDO:HDOWK
KHOGLQ6FKHGXOH&RPPHUFLDO%DQN 6&% 
Deposits (Current, Savings and Term
Deposits)
+RXVHKROG VHFWRU ZLWK 22 VKDUH ZDV WKH
ODUJHVWFRQWULEXWRULQWRWDOGHSRVLWVDVRQst
0DUFK0HWURSROLWDQEUDQFKHVIROORZHG
E\XUEDQDQGVHPLXUEDQEUDQFKHVFRQWLQXHG
WR OHDG GHSRVLW JHQHUDWLRQ E\ 6FKHGXOH
&RPPHUFLDO %DQNV PDLQO\ LQ WKH IRUP RI
WHUP GHSRVLWV 6DYLQJV GHSRVLWV GRPLQDWHG
LQ UXUDO EUDQFKHV IROORZHG E\ WHUP GHSRVLWV
0HWURSROLWDQ8UEDQ EUDQFKHV FRQWULEXWHG
DERXW  RI WKH WRWDO GHSRVLWV IROORZHG E\
6HPLXUEDQ  DQGUXUDO  EUDQFKHV

Figure 10:
Distribution of Deposits
according to area
Rural
10%

Semi-Urban
14%

Urban/
Metropolitan
76%

5HJLRQZLVH6RXWKHUQ5HJLRQ  IROORZHGE\:HVWHUQ5HJLRQ  FRQWULEXWHGWRKDOIRIWKH


,QGLYLGXDOZHDOWKKHOGLQGHSRVLWVZLWKWKH6&%V1RUWK(DVWHUQ5HJLRQDFFRXQWHGMXVWRIWKH
WRWDOLQGLYLGXDOZHDOWKLQ'HSRVLWV

7DEOH5Hgion-Wise Distribution of Individual Wealth held in


Deposits with SCBs
5HJLRQ

Proportion (%)

Amount (` Cr.)

6RXWK
North
&HQWUDO
(DVWHUQ
West
1RUWK(DVW








24
22
15
14
23
2

$VSHUWKHW\SHRIGHSRVLWVDOOWKHUHJLRQVIROORZHGWKHVDPHWUHQGDVPRVWRIWKHZHDOWKZDV
SDUNHGLQ7HUP'HSRVLWVIROORZHGE\6DYLQJ'HSRVLWVDQG&XUUHQW'HSRVLWV

Figure 11: Household Bank Deposits


700000.00
600000.00

` Crore

500000.00
400000.00

CURRENT

300000.00

SAVINGS

200000.00

TERM

100000.00
0.00

 5%,



4.5 Cash
&DVKLVHVWLPDWHGXVLQJWKHFXUUHQF\LQSXEOLFFLUFXODWLRQJXUHV
UHOHDVHGE\WKH5%,HYHU\ZHHN,WLQFOXGHVQRWHVDQGFRLQVThe
table shows that as on 31st0DUFK`13 Lakh Crore worth
RIFDVKLVLQWKHKDQGVRISXEOLF7KHSHUVLVWHQWLQDWLRQVLQFH
 VLWXDWLRQ KDV UHVXOWHG LQ WKH 5%, WDNLQJ OLTXLGLW\ FRQWURO
PHDVXUHVDQGLQIXVLQJOHVVFDVKLQWKHV\VWHPZKLFKH[SODLQVWKH
GHFOLQLQJUDWHRIFXUUHQF\LQFUHDVH

Table 16: Individual Wealth in Cash


Year
2014
2013
2012
2011
2010

YOY Growth (%)

Amount (` Cr.)











Figure 12: Cash held by Individuals


1400000
1200000

` Crore

1000000
800000
600000
400000
200000
0
2010

2011

2012

2013

2014

4.6 Provident Fund


7KHUH DUH WZR W\SHV RI SURYLGHQW IXQG H[LVWLQJ LQ ,QGLD HPSOR\HHV SURYLGHQW IXQG DQG SXEOLF
SURYLGHQWIXQG%RWKDUHLQWHQGHGDVDVDYLQJFXPLQYHVWPHQWWRROIRUORQJWHUPDQGKDYHORZ
OLTXLGLW\3HRSOHLQYHVWLQWKHVHWREXLOGWKHLUUHWLUHPHQWFRUSXV

(PSOR\HHV3URYLGHQW)XQG
(PSOR\HH3URYLGHQW)XQGLVDPDQGDWRU\UHWLUHPHQWEHQHWDSSOLFDEOHRQO\WRVDODULHGHPSOR\HHV
,WLVIXQGWRZKLFKERWKWKHHPSOR\HHDQGHPSOR\HUFRQWULEXWHRIWKHIRUPHUVEDVLFVDODU\
DPRXQWHDFKPRQWK(3)DFFRXQWVZLOOQRZ\LHOGDUHWXUQRIDQQXDOO\,Q(3)WKHDPRXQW
LVSDLGDWWKHWLPHRIUHWLUHPHQWRUUHVLJQDWLRQZKLFKHYHURFFXUVHDUOLHU7KHDPRXQWLQYHVWHGLQ
DQ(PSOR\HHV3URYLGHQW)XQGLVH[HPSWIURPWD[XQGHU6HFWLRQ&RIWKH,QFRPH7D[$FW,WLV
DGPLQLVWHUHGE\(3)27KLVVFDOVDZDULVHRILQWKH(3)ZKLFKQRZVWDQGVDW`4.74
Lakh Crore.



3XEOLF3URYLGHQW)XQG
7KLV LV D YROXQWDU\ VFKHPH DGPLQLVWHUHG E\ WKH 1DWLRQDO 6DYLQJV ,QVWLWXWH 3RVW RIFHV DQG D
VSHFLHGOLVWRIEDQNVLVDOORZHGWRWDNHGHSRVLWVIRUWKLVIXQG7KHFXUUHQWUDWHRILQWHUHVWRIIHUHG
LVDQQXDOO\,QYHVWPHQWXSWR,15SHUDQQXPTXDOLHVIRU,75HEDWHXQGHU6HFWLRQ
&RI,7$FW

Table 17: Assets In Provident Fund


Composition of PF

FY14 (` Cr.)

FY13 (` Cr.)

YOY Growth (%)

23











33)ZLWK%DQNV







Total

7,36,096

5,24,300

40.39

(PSOR\HH3URYLGHQW)XQG



33)ZLWK3RVW2IFH

7KHFRQYHQLHQFHIDFWRU RQOLQH33)DFFRXQWHDV\UHDFKHWF LVUHVSRQVLEOHIRUEDQNVKDYLQJD


ODUJHUVKDUHRI33)'HSRVLWVZKHQFRPSDUHGWRSRVWRIFHVThe individual wealth in provident
funds is `7.36 Lakh Crore with 40.39% YOY growth.$PDMRUFRQWULEXWRUWRWKLVLQFUHDVHLVWKH
LQFUHDVHLQ%DQN33)'HSRVLWV

15,'HSRVLWV
1RQ5HVLGHQW,QGLDQVFDQSDUNWKHLUPRQH\ZLWK,QGLDQ%DQNVWKURXJKYDULRXVGHSRVLWVFKHPHV
XQGHUWKHJXLGHOLQHVRI5HVHUYH%DQNRI,QGLD15,IRUWKHSXUSRVHRI%DQN$FFRXQWVLVGHQHG
XQGHU)(0$15,VDUHSHUPLWWHGWRRSHQGLIIHUHQWW\SHVRIEDQNDFFRXQWVOLNH152 1RQ5HVLGHQW
2UGLQDU\$FFRXQW 15( 1RQ5HVLGHQW([WHUQDO$FFRXQW DQG)&15 %  )RUHLJQ&XUUHQF\1RQ
5HVLGHQW %DQN $FFRXQW 152DQG15(DFFRXQWVFDQEHRSHQHGLQWKHIRUPRIFXUUHQWVDYLQJV
UHFXUULQJDQG[HGGHSRVLWVDFFRXQWVZKHUHDV)&15 % DFFRXQWVDUHRQO\WHUPGHSRVLWVRI
WR\HDUV
7KHRXWVWDQGLQJDPRXQWLQWKH15,GHSRVLWVDVRQst0DUFKLV`6,22,33724 Crore. The
15,GHSRVLWVLQFUHDVHGE\DVFRPSDUHGWR)<7RDWWUDFW15,UHPLWWDQFHVWKH5%,
KDGSURYLGHGDGGLWLRQDOLQFHQWLYHVWR15,VWRLQYHVWLQ,QGLDXQGHUWKH)&15GHSRVLWVFKHPHE\
UDLVLQJLQWHUHVWUDWHVIURPWKHSHULRGRI6HSWHPEHUWR1RYHPEHU

7DEOH 2XWVWDQGLQJ$PRXQWKHOGLQ15,'HSRVLWV
Type

FY14 (` Cr.)

)&15 %
NRE
NRO
Total




6,22,337

FY13 (` Cr.)





YOY Growth (%)







 (VWLPDWLRQEDVHGRQ$80JXUHVRI(3)2
 5%,



6PDOO6DYLQJV
)LVFDOVDZWKHVPDOOVDYLQJVFDWHJRU\GHFOLQHE\DV
DUHVXOWRIWKHGHFOLQLQJVDYLQJVUDWHVDZDVDYLQJVUDWH
RIRI*'3DIRXUWKFRQVHFXWLYHIDOOIURPWKHKLJKRI
LQ7KLV\HDUWKHVPDOOVDYLQJVSRVWHGDJURZWK
5XUDO ,QGLD DFFRXQWV IRU  RI WKH FRXQWU\V WRWDO LQFRPH DQG
SHUFHQWRI,QGLDVVDYLQJV3HRSOHLQYLOODJHVDQGVHPLXUEDQ
DUHDV DUH SDUNLQJ PRQH\ LQ SRVW RIFH GHSRVLWV DQG QDWLRQDO
VDYLQJVFHUWLFDWHVLQVWHDGRIWKHXVXDOSUDFWLFHRIEX\LQJJROG
ZLWKWKHLUH[WUDFDVK&RQWULEXWLRQRIDJULFXOWXUHWR*'3KDVLQFUHDVHGIURPODVW\HDUWR
WKLV\HDU
The Individual Wealth in Small Savings stands at `/DNK&URUH

Table 19: Individual Wealth held in Small Savings


Type

FY14 (` Cr.)

FY13 (` Cr.)

YOY Change (%)

3RVW2IFH0RQWKO\,QFRPH6FKHPH







.LVDQ9LNDV3DWUD
3RVW2IFH5HFXUULQJ'HSRVLW$FFRXQW
16&LVVXHV
3RVW2IFH7LPH'HSRVLW$FFRXQW
3RVW2IFH6DYLQJV%DQN$FFRXQWV
6HQLRU&LWL]HQV6DYLQJ6FKHPH
2WKHU&HUWLFDWHV
1DWLRQDO6DYLQJV6FKHPH
,QGLUD9LNDV3DWUD
Total





















5,65,016










2.45

4.9 Mutual Funds


$VVHWV8QGHU0DQDJHPHQW $80 LQ0XWXDO)XQGVDVDSHUFHQWRI*'3IRU,QGLDLVVLJQLFDQWO\
ORZHU WKDQ VRPH RWKHU HPHUJLQJ HFRQRPLHV IRU H[DPSOH  IRU %UD]LO DQG DURXQG  IRU 6RXWK
$IULFD7KLV LQGLFDWHV VLJQLFDQW KHDGURRP IRU JURZWK %XW WKH FXUUHQW GRPHVWLF DQG JOREDO HFRQRPLF
FRQGLWLRQVDUHDFWLQJDVDGHWHUUHQWWRWKHJURZWK7KRXJKWKH$80LQWKHPXWXDOIXQGVKDVLQFUHDVHG
WR25 /DNK&URUHDQ<2<LQFUHDVHEXWWKHGHFOLQHLQWKHQXPEHURIIROLRVFRQWLQXHVXQDEDWHG
7KHQXPEHURIIROLRVLQWKHLQGXVWU\IHOOWRDURXQG&URUHIURP&URUHDGHFOLQHRI/DNK
DFFRXQWV7KHSHQHWUDWLRQRIWKH0XWXDO)XQG,QGXVWU\UHPDLQVORZZLWKFRUSRUDWHGRPLQDWLQJWKH$80
WKH\HQMR\HGVKDUHLQ0DUFK+1,VZHUHWKHVHFRQGELJJHVWFRQWULEXWRURI$80ZLWK
VKDUHIROORZHGE\UHWDLOLQYHVWRUVZLWK
7KHHTXLW\FDWHJRU\VDZWKHPD[LPXPGHFOLQHLQWKHQXPEHURIUHWDLOIROLRVDVLQYHVWRUVFKRVHWRERRN
SURWVDIWHUWKHUHFHQWVWHHSULVHLQWKHVHJPHQWDQGRQH[SHFWDWLRQVRIYRODWLOLW\DKHDG6LPLODUWUHQG
FDQEHVHHQLQWKH+1,FDWHJRU\DVZHOO$IWHUULVLQJDOPRVWWKUHHWLPHVLQ+)<WKHQXPEHURIIROLRV
KHOGE\KLJKQHWZRUWKLQGLYLGXDOVRU+1,V LQGLYLGXDOVLQYHVWLQJ`/DNKRUPRUH GHFOLQHGE\ RU
`/DNK LQWKHVHFRQGKDOIRI)<DVWKHVHJPHQWFKRVHWRERRNSURW
$0),

20

*LOWIXQGVZHQWRXWRIDYRUDQGWKHFDWHJRU\ZLWQHVVHGGHFOLQHLQRYHUDOOIROLRFRXQWDORQJZLWKD
GHFOLQHLQ$807KLVZDVGXHWRRQJRLQJXQFHUWDLQW\LQLQWHUHVWUDWHHQYLURQPHQWDPLGSHUVLVWHQW
KLJKLQDWLRQ'HEWIXQGVKDYHEHHQVHHLQJDULVHLQLQYHVWRUDFFRXQWVVLQFH0DUFKDQG)<ZDV
QRGLIIHUHQW30/DNKUHWDLOSRUWIROLRVZHUHDGGHGWRWKLVFDWHJRU\UHVXOWLQJLQDLQFUHDVHLQWKH
$80
%XWZLWKWKHKXJHZLQRI1'$LQWKHJHQHUDOHOHFWLRQVFRQGHQFHLQWKH,QGLDQLQGXVWU\KDVLQFUHDVHG
ZKLFKLVUHHFWHGLQWKHKXJHVDOHVRI(TXLW\EDVHG0XWXDOIXQGVLQ0D\ &U 7KLVWUHQGLV
H[SHFWHGWRFRQWLQXHDQGUHWDLOLQYHVWRUVZLOOVWDUWLQYHVWLQJPRUHLQHTXLW\EDVHGPXWXDOIXQGVThe total
Individual Wealth in Mutual Funds stood at `3.93 Lakh Crore up from `3.49 Lakh Crore in FY13.
'HEWEDVHGPXWXDOIXQGVKDYHEHHQLQIDYRXULQ)<RZLQJWRWKHH[WUHPHYRODWLOLW\LQWKHVWRFNPDUNHWV
7KLVLVUHHFWHGLQ'HEWIXQGJURZWKIDURXWVWULSSLQJHTXLW\IXQGJURZWK

Table 20: Mutual Funds based on underlying Investment by Individual


Investor
Type

FY14 (` Cr.)

(TXLW\

FY13 (` Cr.)

YOY Growth (%)







Debt







Total

3,93,140

349,749

12.40

4.10 Pension Funds


7KLVLVDQHZFDWHJRU\RILQYHVWPHQWLQFOXGHGLQWKLV\HDUV,QGLD:HDOWK5HSRUW8QGHUWKLVZHFRQVLGHU
WKH $80 LQ WKH SXUYLHZ RI 3)5'$ 3HQVLRQ )XQG 5HJXODWRU\ DQG 'HYHORSPHQW $XWKRULW\  ,W ZDV
HVWDEOLVKHGE\WKH*RYHUQPHQWRI,QGLDWRSURPRWHROGDJHLQFRPHVHFXULW\E\HVWDEOLVKLQJGHYHORSLQJ
DQG UHJXODWLQJ SHQVLRQ IXQGV 3)5'$ KDV HVWDEOLVKHG WKH LQVWLWXWLRQDO IUDPHZRUN DQG LQIUDVWUXFWXUH
UHTXLUHGIRUDGPLQLVWHULQJWKH1DWLRQDO3HQVLRQ6\VWHP 136  IRU JRYHUQPHQW HPSOR\HHV DV ZHOO
DV RWKHU FLWL]HQV RI ,QGLD ,W LV PDQGDWRU\ IRU &HQWUDO *RYHUQPHQW (PSOR\HHV DQG YROXQWDU\
IRU DOO RWKHU FLWL]HQV RI ,QGLD 7KH V\VWHP ZRUNV VLPLODU WR D PXWXDO IXQG ZKHUHLQ RQHV IXQGV
DUHLQYHVWHGLQWRHTXLW\[HGLQFRPHDQGJRYHUQPHQWVHFXULWLHVEDVHGRQWKHLQGLYLGXDOVULVN
DSSHWLWH7KH136ZDVRSHQHGXSIRUDOOFLWL]HQVRI,QGLDZLWKHIIHFWIURPst0D\3UHVHQWO\
WKHIROORZLQJ(LJKW3HQVLRQ)XQG0DQDJHUVDUHPDQDJLQJWKHIXQGVRIXQRUJDQL]HGVHFWRU

6%,3HQVLRQ)XQGV3ULYDWH/LPLWHG87,5HWLUHPHQW6ROXWLRQV/LPLWHG
,&,&,3UXGHQWLDO3HQVLRQ)XQGV0DQDJHPHQW&RPSDQ\OLPLWHG
.RWDN0DKLQGUD3HQVLRQ)XQG/LPLWHG
5HOLDQFH&DSLWDO3HQVLRQ)XQG/LPLWHG
/,&3HQVLRQ)XQG/LPLWHG
+')&3HQVLRQ0DQDJHPHQW&RPSDQ\/LPLWHG

'63%ODFNURFN3HQVLRQ)XQG0DQDJHUV3YW/WG

As on 31st'HFHPEHU136KDV/DNKVXEVFULEHUVZLWKDQ$80 $VVHWVXQGHU
Management) of `31 Crore.

$0),
31
PFRDA

21

4.11 Alternative Assets


$OWHUQDWLYH DVVHWV FDQ EULQJ VLJQLFDQW EHQHWV WR LQYHVWPHQW SRUWIROLRV WKURXJK GLYHUVLI\LQJ
H[SRVXUH DZD\ IURP WUDGLWLRQDO [HG LQFRPH DQG HTXLW\ DVVHWV 1RZ ZKDW LV FRQVLGHUHG DV
WUDGLWLRQDOPD\YDU\IURPFRXQWU\WRFRXQWU\*HQHUDOO\LQYHVWPHQWVLQVWRFNVRUERQGVRU[HG
GHSRVLWVDUHFRQVLGHUHGDVWUDGLWLRQDOLQYHVWPHQWV6RZHDOWKLQDOWHUQDWLYHDVVHWVFRPSULVHVRI
LQYHVWPHQWVPDGHGLUHFWO\LQWKHDVVHWVXFKDV+HGJH)XQGV9HQWXUH&DSLWDO)XQGV*ROG(7)
HWFDQGLQYHVWPHQWVPDGHLQIXQGVUHJLVWHUHGXQGHU$OWHUQDWLYH,QYHVWPHQW)XQGV $,)V 
$,)VDUHGHQHGLQ5HJXODWLRQ  E RI6(%,5HJXODWLRQV0D\7KHVH$,)VDUHFDWHJRUL]HG
LQWRWKHIROORZLQJWKUHHFDWHJRULHV
Category

Sub-Categories

&DWHJRU\

,QIUDVWUXFWXUH)XQGV9HQWXUH&DSLWDO)XQGV
60()XQGV6RFLDO9HQWXUH)XQGV

&DWHJRU\

3ULYDWH(TXLW\'HEW)XQGV

&DWHJRU\

+HGJH)XQGV

&DWHJRU\,LVRIIXQGVZKLFKPLJKWKDYHDVSLOORYHULPSDFWRQWKHHFRQRP\DQGDUHHOLJLEOHIRU
FHUWDLQ FRQFHVVLRQV &DWHJRU\,, KDV QR VXFK FRQFHVVLRQV RU LQFHQWLYHV &DWHJRU\,,, LQFOXGHV
WKRVHZKLFKFDQOHYHUDJHWKHLUWUDGHVDQGKDYHQRVSHFLFFRQFHVVLRQV
7KHUHDUHFXUUHQWO\UHJLVWHUHG$,)VXQGHUWKLVUHJXODWLRQDVRQ0DUFKst$OWHUQDWH
,QYHVWPHQWIXQGVUDLVHGDURXQG`32 &URUHXSE\DVFRPSDUHGWRSUHYLRXVTXDUWHU7KH
$,)VKDYHJDUQHUHGFRPPLWPHQWVRI`33&URUHXSRYHUWKH'HFHPEHUTXDUWHUThe
LQGLYLGXDOZHDOWKLQDOWHUQDWLYHDVVHWVLQFOXGLQJRWKHUDVVHWVDORQJZLWK$,)VLVHVWLPDWHG
to be `23,727 Crore in FY14.

Table 21: Composition of Individual Wealth in Alternative Assets


Asset Class
+LJK<LHOG'HEW





3ULYDWH(TXLW\





*ROG(7)





5HDO(VWDWH)XQGV





6WUXFWXUHG3URGXFWV





+HGJH)XQGV





)LOP)XQGV





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121



14



23,727

100.00

9HQWXUH&DSLWDO)XQGV
Total

6(%,

22

Proportion (%)

Amount (` Cr.)

High Yield Debt:


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:RUWK,QGLYLGXDOV
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as against `&URUHUHFRUGHGGXULQJ)<,WLVH[SHFWHGWKDWWKHLQYHVWPHQWLQJROG(7)V
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LQYHVWRUVZKRFDQWDNHRQDOOWKHXQGHUO\LQJULVNV
7RWDO,QGLYLGXDO:HDOWKLQ6WUXFWXUHG3URGXFWVLVHVWLPDWHGWREH`2,309 Crore

Hedge Funds:
&ODVVLHGXQGHU&DWHJRU\RI$OWHUQDWLYH,QYHVWPHQW)XQGVDVSHU6(%,$,)5HJXODWLRQV+HGJH
IXQGV DUH DQ DJJUHVVLYHO\ PDQDJHG SRUWIROLR RI LQYHVWPHQWV WKDW XVHV DGYDQFHG LQYHVWPHQW
VWUDWHJLHVVXFKDVOHYHUDJHGORQJVKRUWDQGGHULYDWLYHSRVLWLRQVLQERWKGRPHVWLFDQGLQWHUQDWLRQDO
PDUNHWVZLWKWKHJRDORIJHQHUDWLQJKLJKUHWXUQV$ERXW+HGJHIXQGVDUHUHJLVWHUHGZLWK6(%,
DVRI0DUFK7KHWRWDODVVHWVXQGHUPDQDJHPHQWRI+HGJH)XQGVDUH`&URUHThe
LQGLYLGXDOSDUWLFLSDWLRQLQWKHVHIXQGVLVHVWLPDWHGDW `&URUHDQLQFUHDVHRIDERXW
over FY13.+HGJH)XQGVLQ,QGLDRXWSHUIRUPHGPDQ\RIWKHLUJOREDOSHHUVLQWKH-DQXDU\0DUFK
TXDUWHUDVSHUWKHUHSRUWIURPUHVHDUFKUP(XUHNDKHGJHDQGVXFKDQLQFUHDVHZDVGXHWR
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Film Funds:
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LQYHVWPHQWVLQWKH,QGLDQ)LOP,QGXVWU\DFURVVYDULRXVIXQFWLRQVIURPSUHSURGXFWLRQWRGLVWULEXWLRQ
DQG PDUNHWLQJ 7KH )LOP )XQGV WHQG WR GLYHUVLI\ WKH ULVN E\ LQYHVWLQJ LQ GLIIHUHQW OPV The
individual wealth in these funds in the FY14 stands at `&URUHDGHFUHDVHRIDV
FRPSDUHGWR)<7KHGHFUHDVHLVSRVVLEO\GXHWRLQYHVWRUVHQWLPHQWVDERXWWKHOPVHJPHQW
ZKLFKDFFRUGLQJWRLQYHVWRUVLVQRWSURIHVVLRQDODQGQRWRUJDQL]HG$OVRRXWRI)LOPIXQGVPRVW
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UHVRUWWRSURSHUGLYHUVLFDWLRQ

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6(%,

24

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,QIUDVWUXFWXUHIXQGVZHUHLQWURGXFHGWRFKDQQHOL]HLQYHVWPHQWVLQWRWKHVHFRPSDQLHVDQGWKXV
PDNH PRQH\ IRU LQYHVWRUV 5HJLVWHUHG XQGHU &DWHJRU\  XQGHU WKH$OWHUQDWH ,QYHVWPHQW IXQG
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IXQGVH[SHFWWRLQFUHDVHH[SRQHQWLDOO\DVWKHFRPPLWPHQWVUDLVHGIRUWKHPDUHDERXW `40
&URUH7KHLQGLYLGXDOZHDOWKLQWKHVHIXQGVLVH[SHFWHGWREHDSSUR[LPDWHO\DURXQG `121
Crore. 7KHLQYHVWPHQWLQWKHVHIXQGVJUHZDVRUGHUERRNVIRUWKHLQIUDVWUXFWXUHFRPSDQLHVJUHZ
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LPSURYLQJWKHFDVKRZVZHUHXQGHUWDNHQE\WKHP

Venture Capital Funds:


9HQWXUH&DSLWDO)XQGLVDQLQYHVWPHQWIXQGWKDWPDQDJHVPRQH\IURPLQYHVWRUVVHHNLQJSULYDWH
HTXLW\ VWDNHV LQ VWDUWXS DQG VPDOO DQG PHGLXPVL]H HQWHUSULVHV ZLWK VWURQJ JURZWK SRWHQWLDO
7KHVHLQYHVWPHQWVDUHJHQHUDOO\FKDUDFWHUL]HGDVKLJKULVNKLJKUHWXUQRSSRUWXQLWLHV
8QGHUWKHFDWHJRU\RIWKH$,)UHJXODWLRQWRWDOIXQGVUDLVHGZHUH`&URUHDQGFRPPLWPHQWV
UDLVHGZHUH`42&URUHThe individual wealth in these funds is estimated to be `14 Crore.

4.12 International Assets


7KH VXP RI PRQH\ LQYHVWHG E\ UHVLGHQW ,QGLDQV LQ QDQFLDO LQYHVWPHQWV DEURDG XQGHU WKH
/LEHUDOL]HG5HPLWWDQFH6FKHPHDUHWHUPHGDV,QWHUQDWLRQDO$VVHWV7KHVHLQYHVWPHQWVFDQEH
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DQQXDOFDSRI86LVNHSWE\WKH5%,RQLQYHVWPHQWVPDGHWKURXJKWKLVVFKHPH

Table 22: Individual Wealth in International Assets upto 2014


Type
'HSRVLWV
(TXLW\'HEW
)XQGVRI)XQGV,QYHVWLQJ2YHUVHDV
Total

FY14 (` Cr.)



12,659

FY13 (` Cr.)





YOY Growth (%)





43.02

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 6(%,

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25

Section 5:
Asset wise Break-Up of Individual Wealth held in
Physical Assets in India
3K\VLFDO$VVHWVFRQVLGHUHGWRDUULYHDW,QGLYLGXDOZHDOWKLQWKLVUHSRUWDUH
x *ROG
x Real Estate
x 'LDPRQG
x 6LOYHU
x 3ODWLQXP

5.1 Gold
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VHHWKHPHWDODVDV\PERORISXULW\SURVSHULW\DQGJRRGIRUWXQH
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WKDWDVRISUHVHQWJROGKROGLQJVE\WKHWHPSOHVLQ,QGLDDUHDERXWWRQQHV,QGLDQ&HQWUDO
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 *ROG,QYHVWPHQWVE\,QGLYLGXDOVFDQEHEURDGO\GLYLGHGLQWRWZRFDWHJRULHV3K\VLFDO*ROG
DQG 3DSHU *ROG 3DSHU *ROG UHIHUV WR *ROG (7) ZKLFK LV DFFRXQWHG IRU LQ $OWHUQDWLYH $VVHWV
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Table 23: Composition of Individual demand in terms of Jewelry and


Bars and Coins Investment
Period
Q1 FY14
Q2 FY14
Q3 FY14
Q4 FY14

Jewelry

Bars and Coins


122









Total
310




Source: World Gold Council

Figure 13: Quarterly Demand of Jewelry and Bars and Coins Investment
200

188

180
150.7

160

Tonnes

140

145.6

122

120

104.7
Jewelry

100
80

Bars and Coins

68

60

44.7

43.5

40
20
0
Q1 FY 14

Q2 FY 14

Q3 FY 14

Q4 FY 14

Table 24: Composition of Individual Demand in Gold (in tons)


5HJLRQ
,QGLD
:RUOG

FY13

FY14



YOY Change (%)







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7KLVLVGXHWRDQRWLFHDEOHGHFUHDVHLQWKHGHPDQGIRUMHZHOU\DQG%DUVDQG&RLQVSRVW0D\
ZKHQ WKH 5%, KDG LPSRVHG LPSRUW UHVWULFWLRQV RQ JROG E\ EDQNV 7KH FXUUHQW DFFRXQW GHFLW
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DIWHUDJRYHUQPHQWFUDFNGRZQRQJROGLPSRUWV
7KH5%,DOVRLPSRVHGVFKHPHXQGHUZKLFKRXWRIWKHWRWDOJROGWKDWLVLPSRUWHGE\WKH
EDQNVVKRXOGEHH[SRUWHGEDFN,QGLDQFRQVXPHUVIDFHGIXUWKHUREVWDFOHVDVDUHVXOWRI
FRXQWU\VJRYHUQPHQWHOHFWLRQVSDUWLFXODUO\ZLWKUHVSHFWWRLPSRUWFXUEVDQGZKHWKHUWKH\PD\
EHOLIWHGLQWKHUHVWRIWKH\HDU 7KLVKHDYLO\LPSDFWHGWKHGHPDQGIRUJROGIRUWKLVQDQFLDO\HDU
$JDLQVWWKLVWKHZRUOGZLGHGHPDQGIRUMHZHOU\HVSHFLDOO\FRXQWULHVOLNH&KLQDUHVXOWHGLQDVWHDG\
JURZWKLQWKHWRWDOSK\VLFDOJROG
+RZHYHULPSRUWRI*ROGLQ,QGLDLVH[SHFWHGWRJRXSDV5HVHUYH%DQNRI,QGLDUHPRYHGVRPH
FXUEVRQLPSRUWVRIJROGLQ0D\The total value of wealth in individual gold stands at `62.5
Lakh Crore up 3% from FY13.



5HDO(VWDWH
Overview and Market Size:
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WR,QGLDQ(FRQRP\LQZDVDERXWLQDEVROXWHWHUPVWKLVLVDERXWELOOLRQ86'

Investment through FDI route:


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7KHLQWURGXFWLRQRI5(,7VLVDPXFKDZDLWHGZHOFRPHPRYHIURPWKHJRYHUQPHQW,WLVDVWHSWKDW
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 .30*5HSRUWRQ,QGLDQ5HDO

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3URPRWLRQ*RYHUQPHQWRI,QGLD
 -RQHV/DQJ/D6DOOH

GHEW5HGXFLQJWKHPLQLPXPFRPPHUFLDOUHDOHVWDWHDVVHWVL]HVIURP`&URUHWR`500 Crore
IRUOLVWLQJ5(,7VLQ,QGLDLVOLNHO\WRHQFRXUDJHPDQ\PLGVL]HGGHYHORSPHQWUPVWRFRQVLGHUWKLV
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ERRVW WKH UHDO HVWDWH VHFWRU ZKLFK LQ WKH ODVW FRXSOH RI \HDUV KDV VHHQ D VOXPS LQ GHPDQG
'HSHQGLQJRQWKHWD[VODEDSHUVRQFRXOGVDYHEHWZHHQ`DQG`D\HDU7KLVZLOO
WHPSWDORWRIUVWWLPHEX\HUVDWWKHHQWU\OHYHO

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$SDUW IURP LQYHVWLQJ LQ ,QGLDV SURSHUW\ LQGLYLGXDOV DOVR LQYHVW LQ LPPRYDEOH SURSHUW\ DEURDG
7KHVHLQYHVWPHQWVPDGHDEURDGFRPHXQGHUWKH/LEHUDOL]HG5HPLWWDQFH6FKHPHJRYHUQHGE\
WKH5%,&XPXODWLYHLQYHVWPHQWVLQ)<PDGHLQUHDOHVWDWHDEURDGVWDQGVDW`&URUHDQ
LQFUHDVHRI

,QYHVWPHQWLQ1DWLRQDO5HDO(VWDWH
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DSSUR[LPDWHLQFUHDVHRIRYHUWKHODVW\HDU

7DEOH &ODVVLFDWLRQRI,QYHVWPHQWLQ5HDO(VWDWH
Type
1DWLRQDO
,QWHUQDWLRQDO
Total

FY14 (` Cr.)




FY13 (` Cr.)


46,09,510

YOY Growth (%)




9.32

7RWDOZHDOWKLQ5HDO(VWDWHVWDQGVDW`/DNK&URUH

5.3: Diamond
1RSODFHRQHDUWKKDVDORQJHURUFORVHUDVVRFLDWLRQZLWKGLDPRQGV
WKDQ,QGLD7KHFRXQWU\LVVDLGWREHWKHKRPHRIWKHUVWGLDPRQG
PLQHV DQG WKH UVW ZULWWHQ PHQWLRQ RI FRPPHUFH LQ GLDPRQGV
DSSHDUHG LQ 6DQVNULW VRPH  \HDUV DJR ,QGLDV *ROFRQGD
PLQHV SURGXFHG VRPH RI WKH ZRUOGV PRVW IDPRXV GLDPRQGV
LQFOXGLQJWKHOHJHQGDU\.RK,1RRUFU\VWDODQGWKH+RSH'LDPRQG
ZKLFKUHPDLQREMHFWVRISRSXODUIDVFLQDWLRQIRUWKHLUVL]HEULOOLDQFH
DQGFRORUIXORZQHUVKLSKLVWRULHV$VUHFHQWO\DVWKHWKFHQWXU\
,QGLDZDVWKHSULQFLSDOVRXUFHRIGLDPRQGVSULRUWRWKHGLVFRYHU\RIGLDPRQGVLQ%UD]LODQG6RXWK
$IULFD7RGD\DOOEXWRQH,QGLDQPLQHKDVEHHQGHSOHWHGEXWWKHFRXQWU\UHPDLQVWKHFHQWHURI
WKHFXWWLQJDQGSROLVKLQJFUDIWV$SSUR[LPDWHO\52RIWKHZRUOGVURXJKGLDPRQGVUHSUHVHQWLQJ
PRUHWKDQRIWKHLUWRWDOYDOXHDUHSROLVKHGLQ,QGLD$VSHUWKHRIFLDOVWDWLVWLFVE\WKH*HPV
 %DLQDQG&RPSDQ\UHSRUWRQ*OREDO'LDPRQG,QGXVWU\



DQG-HZHOU\([SRUW3URPRWLRQ&RXQFLO *-(3& ,QGLDVSROLVKHGGLDPRQGH[SRUWLQFUHDVHGE\


 DW  `53 &URUH LQ  FRPSDUHG WR SUHYLRXV \HDU 7KH JURZWK LQ SROLVKHG
GLDPRQG H[SRUWV ZDV ZLWQHVVHG DIWHU 6HSWHPEHU  DQG WKH WUHQG LV VWLOO FRQWLQXLQJ 0XFK
PRUHUHFHQWLV,QGLDVHPHUJHQFHDVWKHZRUOGVWKLUGODUJHVWPDUNHWIRUGLDPRQGMHZHOU\DIWHU
8QLWHG6WDWHVDQG&KLQD,QGLDVXUSDVVHG-DSDQWKH(XURSHDQ8QLRQDQGWKH*XOIUHJLRQZLWK
DQQXDOUHWDLOVDOHVRI'LDPRQGDPRXQWLQJXSWRELOOLRQRUDERXW54 RIWKHJOREDOGHPDQG
LQWKH\HDU
%XR\HGE\VXUJLQJGHPDQGIRUDOONLQGVRIMHZHOU\XSSHU\HDUVLQFH'LDPRQGVVKDUH
RIWKH,QGLDQMHZHOU\PDUNHWKDVJURZQIURPLQWRLQ,QWKHFRXQWU\
UHFRUGHGUHWDLOGLDPRQGVDOHRIELOOLRQXSE\DVFRPSDUHGWRSUHYLRXV\HDUZKLOHWKH
ZRUOG GLDPRQG UHWDLO VDOHV ZDV DERXW 55 ELOOLRQ The Individual Wealth in Diamond is
estimated at `/DNK&URUH.

5.4: Silver
7KHGHPDQGIRUVLOYHULQ,QGLDFRPSULVHVRIGHPDQGIRU-HZHOU\
DQG VLOYHUZDUH FRLQV DQG PHGDOV DQG LQGXVWULDO VLOYHU XVHG
LQ HOHFWURQLFV DOOR\V SKRWRJUDSK\ DQG RWKHUV ,QGLD KDUGO\
SURGXFHVDQ\VLOYHUDQGLVDVLOYHULPSRUWLQJFRXQWU\7KHFRXQWU\
LVRQHRIWKHODUJHVWLPSRUWHUVRIWKHZKLWHPHWDOLQWKHZRUOG
7KHWKUHHPDMRUVLOYHUSURGXFLQJVWDWHVLQ,QGLDDUH5DMDVWKDQ
*XMDUDW -KDUNKDQG5DMDVWKDQLVWKHOHDGLQJVLOYHUSURGXFLQJ
VWDWH LQ ,QGLD 6LOYHU VXSSO\ IURP LPSRUWV DPRXQWV WR 
 IURP VHFRQGDU\ VLOYHU DQG  IURP +LQGXVWDQ =LQF +LQGDOFR  KROG  RI PDUNHW
VKDUH
6LOYHULVFRQVLGHUHGDVDKHGJHDJDLQVWLQDWLRQDQGDOVRSURYLGHVDVDQLQYHVWPHQWIXQFWLRQ
)DUPRUHDIIRUGDEOHWKDQJROGLWLVSXUFKDVHGE\VPDOOIDPLOLHVLQWKHIRUPRIMHZHOU\ZKLOHPRUH
ZHDOWK\IDUPHUVSUHIHUEDUVJHQHUDOO\NLORVLQVL]HZKLFKFRPHIURPJRRGGHOLYHU\EDUV
WKDWKDYHEHHQFKRSSHGXS)DUPHUVUHSRUWHGO\EXU\WKHVLOYHUEDUVLQWKHLUHOGVDORQJZLWKWKH
FURSV$IWHUDEDGPRQVRRQRULIWKHUHLVDFURSIDLOXUHLWLVVDLGWKDWVLOYHUEHFRPHVWKHKDUYHVW
7KHGHPDQGIRUVLOYHULQFUHDVHGLQ,QGLDE\DVFRPSDUHGWRODVW\HDUDV,QGLDQVRFNHG
WRVLOYHURQDFFRXQWRI,QGLDQUHVWULFWLRQVLQWKHJROGWUDGHThe total household wealth that is
FKDQQHOL]HGLQWRVLOYHULVHVWLPDWHGWREH`1.9 Lakh Crore.

5.5: Platinum
3ODWLQXPMHZHOU\LVRQWKHULVHLQ,QGLD,WLVHDWLQJLQWRWKHWUDGLWLRQDO
JROGVHJPHQWPDLQO\EHFDXVHRIFKDQJLQJFRQVXPHUSUHIHUHQFHV
,QGLDQPHQIURPXSSHUPLGGOHFODVVZKRDUHLQWKHDJHJURXSRI
\HDUVDUHHPEUDFLQJSODWLQXPVRPXFKWKDWPHQVMHZHOU\
WRGD\FRQWULEXWHVWRQHDUO\RIWKHRYHUDOOVKDUHRISODWLQXP
MHZHOOHU\VDOHV
$OVRSULFHYRODWLOLW\DQGLPSRUWFXUEVRQ*ROGKDYHERRVWHGWKHVDOHVRISODWLQXPMHZHOU\LQ,QGLD
7KH ,QGLDQ MHZHOU\ PDUNHW KDV ZLWQHVVHG D VWDJJHULQJ JURZWK RI  SHUFHQW LQ WKH SODWLQXP
MHZHOU\VHJPHQWLQ7KHSULFHJDSEHWZHHQJROGDQGSODWLQXPKDVQDUURZHGIURP
WR  QRZ *ROG`JP 3ODWLQXP`JP  The total Individual Wealth in the
form of Platinum stands at `&URUHXSIURP`3,466 Crore in FY13.



30

*HPVDQG-ZHOOHU\([SRUW3URPRWLRQ
&RXQFLO,QGLD *-(3&
 %DLQDQG&RPSDQ\UHSRUWRQ*OREDO
'LDPRQG,QGXVWU\
 ,QGLDQ&RPPRGLW\([FKDQJH/WG

:RUOG6LOYHU6XUYH\SURGXFHGE\
7KRPVRQ5HXWHUV*)06DQGSXEOLVKHGE\
WKH6LOYHU,QVWLWXWH
3ODWLQXP*XLOG,QWHUQDWLRQDO

Section 6:
Individual Wealth-India
versus World
7DEOH EHORZ VKRZV WKH SURSRUWLRQ RI LQYHVWPHQWV LQ
NH\DVVHWFODVVHVE\,QGLYLGXDOVLQ,QGLDDQGJOREDOO\
$V LW LV HYLGHQW IURP WKH WDEOH EHORZ LQYHVWPHQWV LQ
GHEWLQVWUXPHQWVLVKLJKHVWDPRQJDVVHWFODVVHVERWKJOREDOO\DQGLQ,QGLD

Table 26: Individual Wealth-India versus World


.H\$VVHW&ODVVHV

India (%)

Global (%)

(TXLW\

13

25

'HEW LQFOXGLQJ&DVK
$OWHUQDWH$VVHW LQFOXGLQJ*ROGDQGRWKHU
SUHFLRXVPHWDOVDQGJHPV 
Real Estate
Total



43



13

20
100


100

,QGLDQVDOORFDWHDORWOHVVRIWKHLUZHDOWKWRHTXLW\DVFRPSDUHGWRJOREDODOORFDWLRQEXWWKLVLV
SURMHFWHGWRLQFUHDVHZLWKPRUHUHWDLOSDUWLFLSDWLRQVHHQLQWKHHTXLW\PDUNHWVRFNLQJWRUHDSWKH
EHQHWVRIWKHORQJWHUPJURZWKLQ,QGLD
,QYHVWPHQWVLQDOWHUQDWLYHDVVHWVIRUPDODUJHUSRUWLRQLQ,QGLDDVFRPSDUHGWRWKDWGRQHJOREDOO\
SULPDULO\EHFDXVHRILQYHVWPHQWVLQJROGDV,QGLDQLQGLYLGXDOVSUHIHULQYHVWLQJLQJROGKLJKHUDV
FRPSDUHGWRRWKHUFRXQWULHV

31

Section 7:
Survey on HNI Investment Behavior in India
.DUY\3ULYDWH:HDOWKFRQGXFWHGDSULPDU\UHVHDUFKWRJDXJHWKHLQYHVWPHQWEHKDYLRXURI+1,V
LQ ,QGLD +1,V ZHUH VXUYH\HG DFURVV UHJLRQV DQG  FLWLHV LQ ,QGLD DQG WKHLU UHVSRQVHV ZHUH
UHFRUGHGIRUDVHWRITXHVWLRQVSHUWDLQLQJWRLQYHVWPHQWSDWWHUQVDQGEHKDYLRXU
)ROORZLQJLQVLJKWVZHUHGUDZQIURPWKHUHVHDUFKRQ3ULPDU\6RXUFHRI:HDOWK
:KHQDVNHGDERXWZKDWLVWKHLU3ULPDU\6RXUFHRIZHDOWKRIWKHUHVSRQGHQWVVDLGWKDWWKHLU
LQYHVWDEOHZHDOWKFRPHVIURPWKHDFFXPXODWLRQRIVDYLQJVZKLFKWKH\GLGZKLOHWKH\ZHUHZRUNLQJ
RIWKHUHVSRQGHQWVKDGWKHLUZHDOWKFUHDWHGIURP(QWUHSUHQHXUVKLSZKLOHWKHUHPDLQLQJ
KDGWKHLUZHDOWKIURP,QKHULWDQFH

Figure 15:
$VVHW$OORFDWLRQ3ULQFLSDO

Figure 14:
3ULPDU\VRXUFH
of wealth

Not Applicable
3%
Entrepreneurship

31%
Work
Benefits
58%

Follow the
same
51%

Change
46%

Inheritance
11%

3ULQFLSOHRI$VVHW$OORFDWLRQ
:KHQDVNHGZKHWKHUWKH\DOZD\VIROORZWKHLUDVVHWDOORFDWLRQSULQFLSOHRUFKDQJHDFFRUGLQJWRWKH
UHFHQWWUHQGVVDLGWKDWWKH\FKDQJHDVSHUWKHUHFHQWWUHQGZKHUHDVRIWKHPIROORZWKH
VDPHSURSRUWLRQRILQYHVWLQJLQGLIIHUHQWDVVHWFODVVHV

,QYHVWPHQWVLQ5HDO(VWDWH
5HDO(VWDWHIRUPVDPDMRUSDUWRI+1,VSRUWIROLRRI,QYHVWPHQW:KHQDVNHGZKHWKHUWKH\RZQHG
DVHFRQGKRPHVDLGWKDWWKH\KDYHSDUNHGWKHLUPRQH\LQWRUHDOHVWDWHZKHUHDVRQO\
GHQLHGKDYLQJVXFKDQLQYHVWPHQW,WZDVDOVRREVHUYHGWKDWUHDOHVWDWHDVDVHFWRULVJDLQLQJ
LPSRUWDQFHIRU+1,VDVPRVWRIWKHPDOVRLQYHVWHGLQRWKHUIRUPVRIUHDOHVWDWHLQYHVWPHQWV2WKHU
WKDQLQYHVWLQJGLUHFWO\LQWR6HFRQGKRPHV5HDO(VWDWH1&'VDUHEHFRPLQJSRSXODUDPRQJ+1,V
&LWLHVVXUYH\HGZHUH0XPEDL3XQH'HOKL&KHQQDL+\GHUDEDG%DQJDORUH&KDQGLJDUK

DQG.RONDWD

32

Figure 16: 3HUFHQWDJHRIUHVSRQGHQWVKDYLQJD6HFRQG+RPH

36%

No

Yes

64%

0%

20%

40%

60%

80%

Figure 17:

Trend in Corporate FDs Investment


8QGHUWKHQHZ&RPSDQLHV$FWWKHFRPSDQLHV
DUH UHTXLUHG WR LQVXUH WKH GHSRVLWV WDNHQ IURP WKH
SXEOLF 7KLV ZDV GRQH EDVLFDOO\ WR FXUE LQYHVWPHQW
IUDXGXOHQW VFKHPHV +RZHYHU WKLV VRPHZKDW
LPSDFWHG WKH RQFH SRSXODU &RPSDQ\ )'V DPRQJ
WKH +1,V :KHQ DVNHG ZKHWKHU WKH\ LQYHVWHG LQ
&RPSDQ\)'VLQ)<UHSOLHGLQQHJDWLRQ

Trend on investing in
Corporate FDs
Yes

No

48%
52%

3UHIHUHQFHIRU1RQ7UDGLWLRQDO$VVHW&ODVVHV
$OWHUQDWLYH $VVHWV DV ZHOO DV ,QWHUQDWLRQDO (TXLW\ DUH FRQVLGHUHG DV QRQWUDGLWLRQDO DVVHWV LQ
,QGLD7KRXJK$OWHUQDWLYH$VVHWVKDYHFDUYHGWKHLUSODFHLQWKHSRUWIROLRRIDQ,QGLDQ+1,,QYHVWRU
,QWHUQDWLRQDO(TXLW\LV\HWWRQGLWVFKDUPDPRQJWKHLQYHVWRUVZLWKREYLRXVUHDVRQVEHLQJOHVVHU
UHWXUQVIURPWKHVWDEOHDQGGHYHORSHGHTXLW\PDUNHWV:KHQDVNHGZKHWKHUWKHLULQYHVWPHQWV
LQ$OWHUQDWHLYH$VVHWVKDYHLQFUHDVHGDVFRPSDUHGWRODVW\HDUUHSOLHGDIUPDWLYHO\ZKLOH
UHSOLHGLQQHJDWLRQDQGVDLGWKH\QHYHULQYHVWHGLQWKHP:KHQDVNHGDERXWLQYHVWLQJ
LQ,QWHUQDWLRQDO(TXLW\UHSOLHGWKDWWKH\QHYHULQYHVWHGLQWKHPDQGVDLGWKH\KDYHD
VPDOOSHUFHQWRILQYHVWPHQWVLQWRWKHP

)LJXUH
Investment in
Alternative asset

Figure 19:
Investment in International
(TXLW\

46%

71%

31%
23%

29%

Yes

No

Never Invested

Yes

No

33

/LNH D WUDGLWLRQDO LQYHVWRU +1,V SUHIHUUHG WR


Figure 20:
SDUNWKHLUPRQH\LQ'HEWDQG(TXLW\+RZHYHU
XQOLNHDUHWDLOLQYHVWRUWKH+1,VUDWHGERWKWKH 3UHIHUHQFHIRU$VVHW&ODVVHVLQ)<
DVVHW FODVVHV DOPRVW HTXDOO\ 3K\VLFDO DVVHWV
International
ZHUH SUHIHUUHG WKH UG EHVW DVVHW FODVV IRU
Alternative Assets Assets 2%
LQYHVWPHQW7KRXJK QRQWUDGLWLRQDO DVVHWV OLNH
5%
$OWHUQDWLYH$VVHWVDQG,QWHUQDWLRQDODVVHWVDUH
Physical
JDLQLQJ SRSXODULW\ DPRQJ WKH +1,V PDMRULW\
Assets
RIWKH+1,VHFWLRQVHHWKHVHDVVHWFODVVHVDV
Equity
16%
ULVNLHU DQG WKHUHIRUH UDWHG WKHP DV WKH OHDVW
38%
SUHIHUUHGDVVHWFODVV
Debt
39%

Figure 21:

,QYHVWPHQW'HFLVLRQ,QXHQFHU
,Q WDQGHP ZLWK WKH +1,V DOO DFURVV WKH ZRUOG
DVUHSRUWHGE\WKH:RUOG:HDOWK5HSRUW
+1,VLQ,QGLDUDWHGWKH:HDOWK0DQDJHUVWREH
WKHWRSGHFLVLRQLQXHQFHUVDVIDUDVLQYHVWPHQW
GHFLVLRQV DUH FRQFHUQHG  RI WKHP VDLG
WKDWWKHLUZHDOWKPDQDJHUVDGYLFHWUDQVODWHG
LQWRLQYHVWPHQWVZKHUHDVVDLGLWLVWKHLU
IDPLO\ ZKLFK LQXHQFHV VXFK GHFLVLRQV 
HDFK YRWHG IRU &KDUWHUHG $FFRXQWDQWV DQG
3HHUVDVWKHLULQYHVWPHQWGHFLVLRQLQXHQFHUV

34

,QYHVWPHQW'HFLVLRQ,QXHQFHU
Peers
11%
Wealth Manager
46%

Family
32%

Chartered
Accountant
11%

Section 8:
Future of Indian Individual Wealth
2SWLPLVP LV EDFN LQ WKH HFRQRP\ DQG PDQ\ HFRQRPLF LQGLFDWRUV VKRZ WKDW WKH ZRUVW IRU WKH
HFRQRP\LVQRZRYHU LPSURYHG,,36HUYLFHVKDYHVWDUWHGVKRZLQJJURZWK 7KHQHZJRYHUQPHQW
ZLWKQRIHDURIWKHSROLWLFDOFKDLQVRIFRDOLWLRQFDQWDNHEROGGHFLVLRQVZKLFKZLOOWDNHWKHHFRQRP\
RQ D KLJK JURZWK SDWK (TXLW\ ZLOO UHDS WKH PD[LPXP EHQHWV RI WKLV JURZWK ZLWK WKH VHQVH[
H[SHFWHGWRDWWDLQOHYHOVE\
*'3JURZWKUDWHVRIWRDUHH[SHFWHGIRUWKHQH[WYH\HDUVWDNLQJWKHQRPLQDO*'3
RI)<WR7ULOOLRQ86'IURPWKHFXUUHQWOHYHOV$OVRPRUHRIWKHKRXVHKROGVDYLQJVDUH
H[SHFWHGWRJRWRQDQFLDOLQVWUXPHQWVDQGWKHQDQFLDOWRSK\VLFDOVDYLQJVUDWLRLVH[SHFWHGWR
UHWXUQWRWKHOHYHOVVHHQGXULQJWKHJROGHQ\HDUVRI  IURPWKHFXUUHQWUDWLRRI
7RWDO,QGLYLGXDO:HDOWKLVH[SHFWHGWRUHDFK`514 Lakh Crore in FY19 from `257 Lakh Crore
LQ)<VKRZLQJD&$*5RI)LQDQFLDO$VVHWVDUHVHHQSRVWLQJDPXFKIDVWHUJURZWK
WKDQ3K\VLFDO$VVHWV KLJKHTXLW\JURZWKEHLQJDPDMRUUHDVRQIRUWKLV ZKLFKLVFRQVLVWHQWZLWK
WKHHFRQRP\HPEDUNLQJRQDKLJKJURZWKSDWK

7DEOH,QGLYLGXDO:HDOWK)RUHFDVW
Asset Type

FY19 (` Cr.)

&$*5 

FY14 (` Cr.)

)LQDQFLDO







Physical









2,57,41,664



Total

)LJXUH%UHDNXSRI)LQDQFLDODQG3KVLFDO$VVHVWVLQ)<DQG)<

Physical
Assets
48%

Financial
Assets
52%

Physical Assets
38%

FY14

Financial Assets
62%

FY19

)LQDQFLDO$VVHWVDUHH[SHFWHGWRJURZWR`316/DNK&URUHDWD&$*5RIULGLQJRQWKH
EDFNRIHTXLW\ZKLFKLVH[SHFWHGWRVKRZD&$*5RI(TXLW\LVH[SHFWHGWRLQFUHDVHLWV
VKDUHLQQDQFLDODVVHWVIURPWR)L[HGGHSRVLWVDUHH[SHFWHGWRORVHVKDUHE\
SRLQWV,QVXUDQFHLVH[SHFWHGWRUHPDLQVWDEOHDW
)LQDQFLDO$VVHWVDUHVHHQWDNLQJDELJJHUVOLFHRIWKHSLHLQ)<

35

7DEOH3URMHFWHG)LQDQFLDO:HDOWK$VVHW&ODVV:LVH'LVWULEXWLRQLQ
FY19
Asset Class
'LUHFW(TXLW\
,QVXUDQFH
)L[HG'HSRVLWV
6DYLQJV'HSRVLWV
3URYLGHQW)XQG
Cash
0XWXDO)XQGV
15,'HSRVLWV
6PDOO6DYLQJV
&XUUHQW'HSRVLWV
%RQGV
3HQVLRQ)XQGV
$OWHUQDWLYH$VVHWV
,QWHUQDWLRQDO$VVHWV
Total

FY14 (` Cr.)














1,34,71,160

&$*5 
















FY19 (` Cr.)














3,16,74,990

)LJXUH3URMHFWHG)LQDQFLDO$VVHWV&ODVV:LVH'LVWULEXWLRQLQ)<
Current Deposits
1.22%
Bonds
NRI Deposits
3.61%
Small Savings 0.49%
2.87%
Mutual Funds

Pension
Funds
0.38%

Alternative Assets
0.30%

International Assets
0.13%

3.85%
Cash
5.87%
Provident
Fund
5.88%

Direct Equity
35.24%
Savings D;eposits
7.60%
Fixed
Deposits
16.08%

Insurance
16.47%

TDEOH3URMHFWHG3K\VLFDO:HDOWK$VVHW
Class Wise Distribution in FY19
3K\VLFDO $VVHWV DUH H[SHFWHG WR
JURZDWD&$*5RIWRUHDFK
`/DNK&URUHE\)<$PRQJ
WKH ZHDOWK KHOG E\ LQGLYLGXDOV
LQ 3K\VLFDO DVVHWV ZHDOWK KHOG
LQ 3ODWLQXP DQG 'LDPRQG DUH
H[SHFWHG WR JURZ IDVWHU WKDQ WKH
WUDGLWLRQDO FODVVHV*ROG DQG 5HDO
(VWDWHLQWKHQH[W)LYH<HDUV



&$*5 

Asset

FY19 (` Cr.)

*ROG







Real Estate







'LDPRQG





















1,22,70,504

10.0

6LOYHU
3ODWLQXP
Total

FY14 (` Cr.)

Future Trends

7KHZHDOWKKHOGE\LQGLYLGXDOVLQQDQFLDODVVHWVKDVJURZQE\LQWKHODVW\HDUVDW
D&$*5RI&RQVLGHULQJWKHIDFWWKDWWKHHFRQRP\KDGQRWVKRZQKHDOWK\JURZWKLQ
WKLVSHULRGWKLVJLYHVDQLQGLFDWLRQRIKRZZHDOWKZLOOJURZZKHQWKH,QGLDQHFRQRP\GRHV
ZHOOLQWKHQH[W\HDUV

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