Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Commercial Banks for India
INDFCNODCSNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,016,840.00
Year-over-Year Change
125.94%
Date Range
1/1/2004 - 1/1/2023
Summary
The 'Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Commercial Banks for India' measures the total number of loan accounts held by small and medium-sized enterprises (SMEs) at commercial banks in India. This indicator provides insights into SMEs' access to formal credit, a critical factor for economic growth and development.
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
This data series represents the total number of outstanding loan accounts held by SMEs at commercial banks in India. It serves as an important gauge of SMEs' integration into the formal financial system, which is crucial for their ability to finance operations, investments, and growth.
Methodology
The data is collected and reported by the Reserve Bank of India (RBI).
Historical Context
Policymakers and economists closely monitor this trend to assess the effectiveness of initiatives aimed at improving SMEs' access to credit and promoting financial inclusion.
Key Facts
- SMEs account for over 30% of India's GDP.
- Access to credit is a major challenge for many Indian SMEs.
- Increasing SME lending is a key policy priority in India.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of outstanding loan accounts held by small and medium-sized enterprises (SMEs) at commercial banks in India.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into SMEs' integration into the formal financial system, which is crucial for their ability to finance operations, investments, and growth. It is a key indicator of financial inclusion and access to credit for this important business segment.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Reserve Bank of India (RBI).
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the effectiveness of initiatives aimed at improving SMEs' access to credit and promoting financial inclusion, which are critical priorities for supporting economic growth and development.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the RBI, but there may be some delays in reporting compared to real-time activity.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Commercial Banks for India (INDFCNODCSNUM), retrieved from FRED.