A prevailing trend from the medieval period, most Indians invest more than half of personal savings physical assets such as land, houses, gold, livestock, and other precious metals and ornaments.
[2][3] Prime Minister Indira Gandhi nationalised 54 banks in 1969, followed by six others in 1980, and made it mandatory for banks to provide 40% of their net credit to priority sectors like agriculture, small-scale industry, retail trade, small businesses, etc.
The unorganised sector and microcredit are still preferred over traditional banks in rural and sub-urban areas, especially for non-productive purposes, like ceremonies and short duration loans.
The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate.
[11] Notable Indian investment banks include JM Financial and Edelweiss Group.