Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for India
INDFCLODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.71
Year-over-Year Change
-16.68%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator tracks outstanding deposits with credit unions and financial cooperatives in India as a percentage of GDP. It provides insights into the use of formal financial services by individuals and businesses.
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 Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for India measures the total value of deposits held with these institutions relative to the country's overall economic output. This metric reflects the level of financial inclusion and access to formal banking services.
Methodology
The data is collected and reported by the Reserve Bank of India.
Historical Context
Policymakers and analysts use this indicator to assess the financial health and development of India's credit union and cooperative sectors.
Key Facts
- India has over 95,000 credit unions and cooperatives.
- Deposits with these institutions equal about 10% of India's GDP.
- Financial inclusion has improved but remains a challenge in rural areas.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total value of deposits held with credit unions and financial cooperatives in India as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and access to formal banking services in India, which is an important factor for economic development and financial stability.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Reserve Bank of India.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess the financial health and development of India's credit union and cooperative sectors, which play a key role in promoting financial inclusion.
Q: Are there update delays or limitations?
A: The data is published regularly by the Reserve Bank of India, but there may be occasional delays or revisions.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Credit Unions and Financial Cooperatives for India (INDFCLODUGGDPPT), retrieved from FRED.