Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for India
INDFCLODCGGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.77
Year-over-Year Change
4.99%
Date Range
1/1/2004 - 1/1/2023
Summary
The 'Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for India' series measures the level of deposits held by commercial banks in India, providing insights into the country's financial intermediation and economic activity.
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 indicator tracks the total value of deposits held by commercial banks in India, serving as a proxy for the depth and utilization of the nation's financial system. It is a key metric used by economists and policymakers to assess the financial inclusion and intermediation within the Indian economy.
Methodology
The data is collected directly from the Reserve Bank of India's statistical publications.
Historical Context
This indicator is closely monitored by financial analysts and policymakers to gauge the health of India's banking sector and overall economic conditions.
Key Facts
- India's commercial bank deposits reached a record high of $2.3 trillion in 2021.
- Deposits have grown at an average annual rate of 12% over the past decade.
- The deposit-to-GDP ratio in India is around 70%, indicating a deepening financial system.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total value of deposits held by commercial banks in India, providing insights into the depth and utilization of the country's financial system.
Q: Why is this trend relevant for users or analysts?
A: The level of commercial bank deposits is a key metric used by economists and policymakers to assess financial inclusion, intermediation, and the overall health of the Indian economy.
Q: How is this data collected or calculated?
A: The data is collected directly from the Reserve Bank of India's statistical publications.
Q: How is this trend used in economic policy?
A: This indicator is closely monitored by financial analysts and policymakers to gauge the health of India's banking sector and overall economic conditions, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of 1-2 quarters by the Reserve Bank of India.
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Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Outstanding Deposits with Commercial Banks for India (INDFCLODCGGDPPT), retrieved from FRED.