Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for India
INDFCSODUGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.95
Year-over-Year Change
-23.15%
Date Range
1/1/2004 - 1/1/2023
Summary
This trend measures outstanding loans from credit unions and financial cooperatives in India as a percentage of GDP. It provides insights into the use of formal financial services in 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 outstanding loans from credit unions and financial cooperatives for India metric represents the value of loans and advances provided by these institutions, expressed as a percentage of the country's gross domestic product (GDP). This indicator offers insights into the level of financial inclusion and the role of cooperative financial institutions in the Indian economy.
Methodology
The data is collected and reported by the Reserve Bank of India.
Historical Context
This metric is used by policymakers and economists to assess financial sector development and access to credit in India.
Key Facts
- India has over 95,000 credit unions and financial cooperatives.
- Outstanding loans from these institutions were 3.4% of India's GDP in 2020.
- The metric has increased from 2.7% of GDP in 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of outstanding loans and advances provided by credit unions and financial cooperatives in India, expressed as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator offers insights into the level of financial inclusion and the role of cooperative financial institutions in the Indian economy, which is relevant for policymakers, economists, and analysts studying financial sector 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: This metric is used by policymakers and economists to assess financial sector development and access to credit in India, which informs policies and initiatives aimed at promoting financial inclusion.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in capturing all cooperative financial institutions, especially smaller or informal ones.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Loans from Credit Unions and Financial Cooperatives for India (INDFCSODUGGDPPT), retrieved from FRED.