Abstract
<title>Abstract</title> <p> This study examines the influence of demographic characteristics on household financial behaviour in India using unit-level data from the 2019 All-India Debt and Investment Survey (AIDIS) conducted by the National Statistical Office (NSO). Unlike previous studies that focus on a single dimension of household finance, such as bank account ownership or investment in risky assets, this study provides a comprehensive analysis of multiple facets of household financial behaviour. A probit regression model is employed to examine the association between household financial decisions and a range of socio-economic characteristics. The findings indicate that bank deposits constitute the most common financial asset held by households, whereas participation in advanced financial products, including provident funds, insurance, and risky financial assets, remains relatively limited. The regression results show that gender, age, household size, education, occupation, and the level of state development are significant determinants of household financial behaviour. Although controlling for household economic status and size leads to modest changes in the estimated effects, the overall pattern of determinants remains broadly consistent. The findings provide important insights into the socio-economic factors shaping household financial behaviour and offer evidence that can inform policies aimed at improving financial inclusion and promoting broader participation in formal financial markets in India. <bold>JEL Classifications:</bold> G51, G52, G53, G41 </p>