Use of Financial Services: Key Indicators, Small and Medium Enterprises (SME) Loan Accounts with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for India
INDFCNODCSPNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.34
Year-over-Year Change
290.05%
Date Range
1/1/2004 - 1/1/2014
Summary
This economic trend measures the percentage of non-financial corporation depositors with commercial banks in India that have small and medium enterprise (SME) loan accounts. It provides insights into the access and usage of financial services by SMEs, a crucial segment of the Indian economy.
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, Small and Medium Enterprises (SME) Loan Accounts with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for India trend tracks the proportion of non-financial corporation depositors with Indian commercial banks that have active SME loan accounts. This metric serves as an indicator of SME access to formal financing channels, which is a key determinant of their growth and development.
Methodology
The data is collected by the Reserve Bank of India through its surveys of commercial banks operating in the country.
Historical Context
This trend is closely monitored by policymakers, regulators, and analysts to assess the financial inclusion and credit access for small and medium enterprises in India.
Key Facts
- India has over 63 million SMEs, contributing to 30% of the country's GDP.
- Access to formal credit remains a key challenge for many Indian SMEs.
- The Reserve Bank of India actively promotes SME financing through various policy initiatives.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of non-financial corporation depositors with commercial banks in India that have active small and medium enterprise (SME) loan accounts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and credit access for SMEs in India, a critical segment of the economy. It is closely monitored by policymakers and analysts to assess the effectiveness of initiatives aimed at improving SME financing.
Q: How is this data collected or calculated?
A: The data is collected by the Reserve Bank of India through surveys of commercial banks operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this trend to evaluate the success of financial inclusion programs and guide policies aimed at improving SME access to formal credit channels.
Q: Are there update delays or limitations?
A: The data is published by the Reserve Bank of India with a lag, and may be subject to revisions based on updates to the underlying survey information.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Small and Medium Enterprises (SME) Loan Accounts with Commercial Banks (% of Non-financial Corporation Depositors with Commercial Banks) for India (INDFCNODCSPNUM), retrieved from FRED.