People 15 Years and Over Saving at a Financial Institution in the Past Year for India
DDAI06INA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.75
Year-over-Year Change
9.89%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and over in India who reported saving at a financial institution in the past year. It provides insights into financial inclusion and saving behaviors.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'People 15 Years and Over Saving at a Financial Institution in the Past Year for India' indicator tracks the share of the adult population in India that has utilized formal banking channels to save money. This metric is used by economists and policymakers to assess progress in expanding access to financial services.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This trend is relevant for evaluating the effectiveness of financial inclusion initiatives and gauging the overall financial health of Indian households.
Key Facts
- The indicator ranges from 0 to 100 percent.
- India's rate of saving at financial institutions was 55.2% in 2017.
- Improving financial inclusion is a key policy priority in India.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and over in India who reported saving money at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into financial inclusion and household saving behaviors in India, which are important for evaluating the effectiveness of economic policies and development initiatives.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess progress in expanding access to financial services and promoting greater financial inclusion in India.
Q: Are there update delays or limitations?
A: The data is updated periodically by the World Bank, but there may be delays in reporting. The survey-based nature of the data also means it may not capture the full complexity of saving behaviors.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for India (DDAI06INA156NWDB), retrieved from FRED.