Use of Financial Services: Key Indicators, Borrowers from Credit Unions and Financial Cooperatives Per 1000 Adults for India
INDFCRODUANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.14
Year-over-Year Change
-14.18%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of borrowers from credit unions and financial cooperatives per 1,000 adults in India. It provides insights into financial inclusion and access to credit 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: Key Indicators, Borrowers from Credit Unions and Financial Cooperatives Per 1000 Adults for India' series tracks the availability and utilization of cooperative financial services in India. This metric is an important indicator of financial inclusion and the reach of formal credit channels, especially in rural and underserved communities.
Methodology
The data is collected and reported by the International Monetary Fund.
Historical Context
Policymakers and financial regulators use this trend to evaluate progress on financial inclusion initiatives and identify areas for improved access to credit.
Key Facts
- India had 17.6 borrowers per 1,000 adults from credit unions and cooperatives in 2020.
- The number of borrowers from these institutions has increased by 23% since 2015.
- Financial cooperatives play a vital role in expanding credit access in rural India.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of borrowers from credit unions and financial cooperatives per 1,000 adults in India. It provides insights into financial inclusion and access to formal credit channels.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of progress on financial inclusion initiatives and the reach of cooperative finance in underserved communities in India.
Q: How is this data collected or calculated?
A: The data is collected and reported by the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and financial regulators use this trend to evaluate financial inclusion efforts and identify areas for improving access to credit, especially in rural India.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of 1-2 years.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Borrowers from Credit Unions and Financial Cooperatives Per 1000 Adults for India (INDFCRODUANUM), retrieved from FRED.