Formal & Mobile Money Savings Statistics in India (2026)
27% of adults in India saved at a formal financial institution or using a mobile money account in 2024, World Bank Global Findex data show. Up from 14.1% in 2021 to 27% in 2024 (+12.9 percentage points). India ranks #1 of 4 economies in South Asia on this measure, and #78 of 142 globally.
Key Statistics
- Latest value (2024)
- 27% (2024)
- Formal & Mobile Money Savings in India as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- +12.9 pp (2024)
- Up from 14.1% in 2021 to 27% in 2024 (+12.9 percentage points).
- Earliest value in this dataset (2011)
- 11.6% (2011)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 11.6% in 2011 to 27% in 2024.
- Record high (2024)
- 27% (2024)
- The 2024 value is the highest in the available World Bank Global Findex series for India.
- Rank in South Asia
- #1 of 4 (2024)
- India ranks 1 of 4 countries in South Asia with data, based on each country's latest value.
- Global rank
- #78 of 142 (2024)
- India ranks 78 of 142 countries with data globally.
- South Asia average
- 20.4% (2024)
- India (27%) is above the average of 20.4% across the 4 countries in South Asia with data.
- Saved at a bank or similar financial institution (% age 15+) (2024)
- 23.8% (2024)
- Related indicator from World Bank Global Findex.
- Internet use in India (2025)
- 70% (2025)
- 70% of the population in India used the internet in 2025 (World Bank); shown for context only.
- Population (2024)
- 1.5 billion (2024)
- India had a population of 1.5 billion in 2024 (World Bank); shown for scale only.
Trend, 2011–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 27% | +12.9 pp |
| 2021 | 14.1% | −5.5 pp |
| 2017 | 19.6% | +5.2 pp |
| 2014 | 14.4% | +2.8 pp |
| 2011 | 11.6% | — |
Frequently asked questions
What share of adults in India saved at a formal financial institution or using a mobile money account?
27% of adults in India saved at a formal financial institution or using a mobile money account in 2024, according to World Bank Global Findex data.
How recent is the formal & mobile money savings data for India?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for India.
Where does the formal & mobile money savings data for India come from?
The data comes from the World Bank Global Findex (indicator fin17a.17a1.d). The latest observation for India is from 2024; the snapshot was retrieved on 2026-06-10.
How has formal & mobile money savings in India changed over time?
World Bank Global Findex data show a rise from 11.6% in 2011 to 27% in 2024.
How does India compare with other countries in South Asia?
India ranks 1 of 4 countries in South Asia with data, with 27% versus a regional average of 20.4% (latest values per country).
Source & methodology
Source: World Bank Global Findex, indicator
fin17a.17a1.d, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .