Consider the following statements regarding the Financial Inclusion Index (FI-Index) released by the Reserve Bank of India: 1. It uses a base year of 2021 to compare financial inclusion progress annually. 2. The index is based on three dimensions: Access, Usage, and Quality, with the highest weightage given to Usage. 3. The FI-Index value ranges between 0 (complete exclusion) to 100 (full inclusion). How many of the above statements are correct? |ForumIAS

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[A] Only one

[B] Only two

[C] All three

[D] None

Answer: B

Notes:

Explanation:

Statement 1 is incorrect – The FI-Index has no base year; it is constructed without any base year.
Statement 2 is correct – It is based on Access (35%), Usage (45%), and Quality (20%), with Usage given the highest weightage.
Statement 3 is correct – The index ranges from 0 (complete exclusion) to 100 (full inclusion).

Source- IE