Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for India
INDFCLODUXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,845,797,000,000.00
Year-over-Year Change
180.28%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures outstanding deposits at credit unions and financial cooperatives in India, providing insights into the use of financial services and liabilities in the country.
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, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for India' series tracks the total value of deposits held at these institutions, reflecting the demand for and utilization of formal financial services by Indian consumers and businesses.
Methodology
The data is collected and reported by the Reserve Bank of India.
Historical Context
This metric is useful for analyzing financial inclusion and the growth of the cooperative banking sector in India.
Key Facts
- India has over 95,000 credit unions and financial cooperatives.
- Deposits at these institutions totaled over $200 billion as of the latest data.
- The cooperative banking sector serves millions of underbanked Indian consumers and small businesses.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held at credit unions and financial cooperatives in India, providing insights into the use of formal financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding financial inclusion and the role of the cooperative banking sector in India's economic development.
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 metric to assess the growth and impact of the cooperative banking system, which is a key component of India's financial inclusion efforts.
Q: Are there update delays or limitations?
A: The data is published with a slight delay by the Reserve Bank of India, but it provides a comprehensive view of deposits held at credit unions and financial cooperatives in India.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits at Credit Unions and Financial Cooperatives for India (INDFCLODUXDC), retrieved from FRED.