Use of Financial Services: Key Indicators, Household Loan Accounts with Commercial Banks Per 1,000 Adults for India
INDFCNODCHANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
324.42
Year-over-Year Change
1518.53%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic indicator tracks the number of household loan accounts per 1,000 adults with commercial banks in India. It provides insights into financial inclusion and household access to formal credit.
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, Household Loan Accounts with Commercial Banks Per 1,000 Adults for India' metric measures the availability and utilization of commercial banking services by Indian households. This data point is used by policymakers and economists to assess progress in expanding financial inclusion and household access to formal credit channels.
Methodology
The data is collected by the Reserve Bank of India through surveys of commercial banks operating in the country.
Historical Context
This indicator informs financial sector and inclusion policies aimed at broadening access to banking services and credit for Indian households.
Key Facts
- India had 251 household loan accounts per 1,000 adults in 2021.
- This metric has grown by over 50% since 2015.
- Expanding financial inclusion is a key policy priority in India.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of household loan accounts per 1,000 adults held with commercial banks in India. It provides insights into financial inclusion and access to formal credit.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing progress in expanding financial inclusion and household access to banking services and credit in India.
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: This indicator informs financial sector and inclusion policies aimed at broadening access to banking services and credit for Indian households.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically 1-2 quarters, and may be subject to revisions by the collecting agency.
Related Trends
Bank's Return on Equity for India
DDEI06INA156NWDB
Financial Market: Share Prices for India
SPASTT01INM661N
Number of Identified Exporters to India from Rhode Island
RIINDA475SCEN
Number of Identified Exporters to India from Utah
UTINDA475SCEN
Use of Financial Services, Assets: Outstanding Loans at Non-deposit Taking Microfinance Institutions (MFIs) for India
INDFCSMMFXDC
Use of Financial Services Deposit Accounts: Accounts at Commercial Banks for India
INDFCAODCNUM
Citation
U.S. Federal Reserve, Use of Financial Services: Key Indicators, Household Loan Accounts with Commercial Banks Per 1,000 Adults for India (INDFCNODCHANUM), retrieved from FRED.