Financial Inclusion Index
- RBI defines financial inclusion “as the process of ensuring access to financial services, and timely and adequate credit for vulnerable groups and low-income groups at an affordable cost.”
- It is also noteworthy to state that seven of the Seventeen United Nations Sustainable Development Goals of 2030 view financial inclusion as a key enabler for achieving sustainable development.
- The RBI periodically publish a Financial inclusion index from 2021.
- The FI index comprises of three broad parameters:
- Access-35%
- Usage – 45%
- Quality- 20%
- The FI index has been constructed without any base year.
- It will be published annually in July every year.
Syllabus : Prelims; Indian Economy
