The digital age has made financial transactions convenient but has also led to a significant increase in cyber fraud, with domestic payments fraud in India rising from ₹542.7 crore in FY 2021 to about ₹2537.35 crore in FY 2023.
India s finance ministry has addressed concerns about dropping household savings, stating that there is no distress. They explained that household savings relative to nominal GDP have remained constant at around 19.7% in FY22. The ministry also highlighted that overall household savings, including financial, physical, and jewellery assets, have grown at a CAGR of 9.2% between 2013-14 and 2021-22. They added that while financial assets added to portfolios decreased in recent years, the net financial assets of households continue to grow.
Temasek Holdings, once a holding entity for Singapore's state companies, has transformed into an investment giant backing startups and leaning into private markets.
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