{"id":126958,"date":"2021-08-18T18:02:10","date_gmt":"2021-08-18T12:32:10","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=126958"},"modified":"2021-08-19T18:39:05","modified_gmt":"2021-08-19T13:09:05","slug":"reserve-bank-launches-index-to-capture-financial-inclusion","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/reserve-bank-launches-index-to-capture-financial-inclusion\/","title":{"rendered":"Reserve Bank launches index to capture financial inclusion"},"content":{"rendered":"

Source: <\/b>Livemint<\/b><\/a> and Business Standard<\/a><\/strong><\/p>\n

What is the News?<\/b><\/h5>\n

The Reserve Bank of India has released India’s First composite Financial Inclusion Index (FI-Index).<\/span><\/p>\n

About Financial Inclusion Index(FI-Index):<\/b><\/h5>\n
    \n
  1. Released by: <\/b>Reserve Bank of India(RBI)<\/span><\/li>\n
  2. Aim:<\/b> To capture the extent of financial inclusion across the country.<\/span><\/li>\n
  3. Parameters: <\/b>The index comprises three broad parameters \u2014 access (35% weightage), usage (45%) and quality (20%). Each of these parameters will consist of various dimensions, which are computed based on 97 indicators.<\/span><\/li>\n
  4. Unique Feature<\/b>: A unique feature of the index is the parameter related to the quality of financial inclusion<\/strong>. It captures information related to financial literacy, consumer protection and inequalities and deficiencies in services,\u00a0<\/span><\/li>\n
  5. Scores:<\/b> The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100 where 0 represents complete financial exclusion and 100 indicates full financial inclusion.<\/span><\/li>\n
  6. When it will be published?<\/b> \u00a0The index will be published in July every year.<\/span><\/li>\n
  7. Base Year: <\/b>\u00a0<\/b>The index has been constructed without any \u201cbase year\u201d. It reflects the cumulative efforts of all stakeholders.<\/span><\/li>\n<\/ol>\n
    Key Findings of the Index:<\/b><\/h5>\n
      \n
    1. The FI-Index<\/b> for the financial year ended March 2021 crossed the halfway mark to 53.9, as compared to 43.4 for the year ended March 2017.<\/span><\/li>\n
    2. This indicates that 46.1% of the parameters<\/b> considered are still financially excluded, despite the launch of several initiatives by the Government.<\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

      Source: Livemint and Business Standard What is the News? The Reserve Bank of India has released India’s First composite Financial Inclusion Index (FI-Index). About Financial Inclusion Index(FI-Index): Released by: Reserve Bank of India(RBI) Aim: To capture the extent of financial inclusion across the country. Parameters: The index comprises three broad parameters \u2014 access (35% weightage),… Continue reading Reserve Bank launches index to capture financial inclusion<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,1305,9],"tags":[9134,276,9133,492],"class_list":["post-126958","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-index-reports-bodies","category-public","tag-fi-index","tag-financial-inclusion","tag-financial-inclusion-index","tag-inclusive-growth","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700789113,"cached_date":1704876984},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/126958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=126958"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/126958\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=126958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=126958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=126958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}