Household finance in India is unique. We have a tendency to invest heavily in physical assets such assets such as gold and property, Steps to encourage the financialization of saving are critical. A populace accustomed to traditional processes will not simply jump into financialization. Hurdles to change include onerous bureaucracy, a scepticism of organized financial 'institutions, a lack of basic information about which the myriad services and providers is best for each family, and how ( and even if ) one can make the transition between them if necessary.

Regarding the financialization of household savings, which of the following statements best reflect the solutions that are implied by the passage?
1. A flexible environment is needed to develop solution
2. Households need customised solutions.
3. Innovations in financial technology are required.
Select the correct answer using the code given below: