Decoding Financial Behaviour: An Analysis of urbanised households in India using AIDIS 77th round

Abstract: This research paper delves into the financial behavior of urbanized households in India, specifically focusing on million-plus agglomerations. Using data from the 77th round of the All India Debt and Investment Survey, the study analyzes assets, borrowing patterns, and the usage of financial instruments like bank accounts, e-wallets, and life insurance. The research explores demographic factors, household structures, and district-level parameters to understand the intricate financial landscape. With a focus on low-income households, the study identifies income, education, type of employment, and branches per capita as significant factors influencing financial behavior. The study contributes valuable insights for financial institutions, policymakers, and researchers seeking a comprehensive understanding of the financial lives of urban households in India.