Money & Banking

Agricultural households tend to save more money: Nabard

Mumbai | Updated on August 20, 2018 Published on August 20, 2018

Agricultural households exhibit a greater tendency to save money compared to their non-agricultural counterparts, according to Nabard’s Rural Financial Inclusion Survey (NAFIS) 2016-17.

Agricultural households fared better with 55 per cent reporting saving some money in the given reference period (in the last one year preceding the survey) compared to 46 per cent of non-agricultural households.

“It will be apt to highlight here that though a lesser proportion of NAH (non-agricultural households) reported any saving in the last one year compared to the AH (agricultural households), their quantum of saving comes out to be higher than that of their counterparts,” the survey said.

While comparing the type of households, the average amount of savings was higher in non-agricultural saver households (₹18,568) against agricultural saver households (₹17,488).

Roughly half (49 per cent) households reported that at least one of their members had saved some money in an institution. The prevalence of institutional savings was higher among agricultural households with about 53 per cent households reporting institutional savings compared to 45 per cent of the non-agricultural households.

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Published on August 20, 2018
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