FINANCIAL INCLUSION INDEX (FI-INDEX) – REPORTS & INDICES
News: Financial inclusion index inches up,
all sub-indices rise: RBI
What's
in the news?
●
The Reserve Bank of India (RBI) said that
India’s financial inclusion index (FI-Index) for the year ended March 31, 2022
improved to 56.4 from 53.9 in the previous year, with growth seen across all
its sub-indices.
Key
takeaways:
●
The Reserve
Bank of India had constructed a composite Financial Inclusion Index
(FI-Index) to capture the extent of financial inclusion across the country, in
consultation with the concerned stakeholders including the Government and
published it in August 2021 for the FY ending March 2021.
Indicators
and Parameters:
●
The index comprises three parameters including access, usage and quality.
●
The FI-Index is responsive to ease of
access, availability and usage of services and quality of services, consisting
of 97 indicators.
Features:
●
The index has been constructed without any base year and reflects
cumulative efforts of all stakeholders over the years towards financial
inclusion.