Use of Financial Services Deposit Accounts: Accounts at Other Deposit Takers for India
INDFCAODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,196,234.00
Year-over-Year Change
17.69%
Date Range
1/1/2014 - 1/1/2017
Summary
This economic trend measures the use of financial services deposit accounts, specifically the number of accounts at other deposit takers for India. It provides insights into the financial inclusion and access to banking services 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 Deposit Accounts: Accounts at Other Deposit Takers for India' trend tracks the total number of deposit accounts held at institutions other than commercial banks, such as post offices and cooperative banks. This metric is used to assess the breadth of financial inclusion and the accessibility of banking services across India.
Methodology
The data is collected by the Reserve Bank of India through surveys and regulatory reporting.
Historical Context
This trend is relevant for policymakers and financial analysts evaluating the progress of financial inclusion initiatives in India.
Key Facts
- India has over 700 million deposit accounts at non-bank institutions.
- The number of deposit accounts at other deposit takers has grown by over 50% in the last decade.
- Financial inclusion is a key policy priority for the Indian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of deposit accounts held at financial institutions in India other than commercial banks, such as post offices and cooperative banks.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of financial inclusion and accessibility of banking services across India, which is a key policy priority.
Q: How is this data collected or calculated?
A: The data is collected by the Reserve Bank of India through surveys and regulatory reporting.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this trend to evaluate the progress of financial inclusion initiatives and access to banking services in India.
Q: Are there update delays or limitations?
A: The data is published regularly by the Reserve Bank of India, but there may be some delays in reporting due to the collection process.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Accounts at Other Deposit Takers for India (INDFCAODDNUM), retrieved from FRED.