- The index measures the extent of financial inclusion in India.
- It describes the inclusion of financial-related activities like banking, investments, insurance, postal and pension sector in India.
- The FI-Index value range between 0 to 100; where 0 indicates complete financial exclusion while 100 indicates full financial inclusion.
- It is calculated based on parameters like access, usage and quality. These parameters are considered with various dimensions which are calculated on the basis of several indicators. There is a total of 97 indicators.
- The access carries a weightage of 35%, usage carries weightage of 45% and quality carries weightage of 20%.
- The annual FI-Index for the period ending March 2021 is 53.9 as against 43.4 for the period ending March 2017.
- The central bank said that it will be releasing FI-Index in the month of July every year, without any consideration of the base year for the index.
- Static Part:
- HQ of RBI: Mumbai
- Governor of RBI: Shaktikanta Das
Question:
Q.1 RBI to release Financial Inclusion Index in which month every year?
a. April
b. January
c. July
d. November
a. April
b. January
c. July
d. November
