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Financial inclusion index – RBI
August 20 , 2021
1196 days
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- The Reserve Bank of India (RBI) has announced the formation of a composite Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion across the country.
- The FI-Index for the period ended March 2021 stood at 53.9 compared with 43.4 for the period ended March 2017.
About the index
- The annual FI-Index will be published in July every year.
- The index incorporates details of banking, investments, insurance, postal as well as the pension sector in consultation with the government and respective sectoral regulators.
- The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100.
- Here 0 represents complete financial exclusion.
- 100 indicates full financial inclusion.
- It has been constructed without any ‘base year’.
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