RBI's financial inclusion index up at 56.4 for March 2022
The Reserve Bank of India (RBI)’s financial inclusion (FI) index rose to 56.4 in March 2022 from 53.9 in March 2021, with growth witnessed across all parameters. The FI index was conceptualised as a comprehensive index incorporating details of banking, investments, insurance, postal as well as the pension sector in consultation with the government and respective sectoral regulators. It has been constructed without any base year. The FI index comprises three broad parameters - access, with a weightage of 35 per cent, usage with 45 per cent weightage and quality with 20 per cent weightage. Each of these consist of various dimensions, which are computed based on a number of indicators.