Interest Rates: Immediate Rates (< 24 Hours): Prime Rates: Total for India
IRSTPI01INM156N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.57
Year-over-Year Change
10.89%
Date Range
1/1/1990 - 12/1/2023
Summary
The 'Interest Rates: Immediate Rates (< 24 Hours): Prime Rates: Total for India' metric tracks the prime lending rate in India, a key benchmark for commercial loans and consumer borrowing.
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 series represents the prime lending rate, which is the interest rate charged by banks on short-term loans to their most creditworthy customers in India. It is a widely followed indicator of credit conditions and overall economic activity.
Methodology
The data is collected by the Reserve Bank of India through surveys of major commercial banks.
Historical Context
Prime rates influence the cost of borrowing for businesses and individuals, impacting investment, consumption, and broader economic trends.
Key Facts
- The prime rate is the benchmark for many types of loans in India.
- Changes in the prime rate reflect the central bank's monetary policy stance.
- The prime rate is a leading indicator of broader credit market conditions.
FAQs
Q: What does this economic trend measure?
A: The 'Interest Rates: Immediate Rates (< 24 Hours): Prime Rates: Total for India' series tracks the prime lending rate in India, which is the interest rate charged by banks on short-term loans to their most creditworthy customers.
Q: Why is this trend relevant for users or analysts?
A: The prime rate is a key benchmark that influences the cost of borrowing for businesses and individuals in India, making it a important indicator of credit conditions and overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected by the Reserve Bank of India through surveys of major commercial banks in the country.
Q: How is this trend used in economic policy?
A: Movements in the prime rate are closely watched by policymakers, as changes in this benchmark lending rate can signal shifts in the central bank's monetary policy stance and impact broader economic trends.
Q: Are there update delays or limitations?
A: The prime rate data is published by the Reserve Bank of India with minimal delays, providing timely insights into India's credit markets.
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Citation
U.S. Federal Reserve, Interest Rates: Immediate Rates (< 24 Hours): Prime Rates: Total for India (IRSTPI01INM156N), retrieved from FRED.