Reserve Bank Launches Index to Capture Financial Inclusion
The Reserve Bank of India (RBI) on Tuesday introduced the financial inclusion index (FI-Index) to capture the extent of financial inclusion in the country. This was among the announcements made in the first bimonthly monetary policy in April this year.
The annual FI-Index for the period ending March 2021 is 53.9 as against 43.4 for the period ending March 2017. The FI-Index has been conceptualized as a comprehensive index incorporating details of banking, investments, insurance, postal, and the pension sector in consultation with government and respective sectoral regulators, RBI said.