Data released by Finmedium, a website that aggregates stock market blogs shows that the proportion of mutual fund folios to the savings bank account is 5.5%.
The data shows that India has 173 crore savings bank account as against 9.6 crore mutual fund folios.
In addition, there are 33 crore insurance policies and 25 crore bank FDs.
The data further shows that there are 8.6 crore current accounts, 6 crore credit cards, 5.2 crore demat accounts and 2.4 crore personal loans.
The data indicates that many investors prefer safer products like FDs and insurance policies to market linked products like mutual funds and stocks.
