IIM Udaipur and PRICE released the Financial Maturity Index, a survey of households in Gujarat and Rajasthan assessing financial capability across ten dimensions.
Study finds financial inclusion high but financial maturity low, with widespread gaps in understanding compounding, inflation, risk‑return, and limited emergency buffers.
Households remain conservative, favoring bank deposits, gold, real estate; only a small segment engages in equity markets with short‑term focus.
RBI MPC member Dr Ram Singh warns that low financial awareness hampers monetary policy transmission, urging a policy shift toward capability and behavior.