RBI’s Financial Inclusion Index

The Reserve Bank of India (RBI) has released the Financial Inclusion Index for 2022, underlining how well financial products and services can be accessed by the general population.

• The index shows an improvement to 56.4 from 53.9 in 2021 across indices like access, usage and equality.
• The index, which was first announced in 2021, does not have a base year unlike the cost inflation index.

Parameters: The Index is based on three broad parameters –

1. Access (35%)
2. Usage (45%)
3. Quality (20%)

Key Features: It will include details of banking, investments, insurance, postal and pension sector. It will be published annually in July every year and it ....