RBI's Financial Inclusion Index for March 2022 rises to 56.4, reflecting growth across all parameters

RBI’s Financial Inclusion Index for March 2022 rises to 56.4, reflecting growth across all parameters

The Reserve Bank of India’s (RBI) Financial Inclusion Index (FI-Index) in March 2022 stood at 56.4.
The FI-index in March 2021 was 53.9.
In March 2022, the growth has been witnessed across all parameters.

RBI introduced the Financial Inclusion Index (FI-Index), which is a measure of the extent of financial inclusion in India. FI-Index incorporates the inclusion details of banking, investments, insurance, postal and pension sector in India.
The value of FI-Index will range between 0 to 100. Where 0 denotes complete financial exclusion while 100 denotes full financial inclusion.
Parameters of FI-Index: The FI-Index comprises of three parameters, namely- Access (35%), Usage (45%), and Quality (20%) with each of these consisting of various dimensions, which are computed based on a number of indicators. In total there are 97 indicators.
The annual FI-Index for the period ending March 2021 is 53.9 while for the period ending March 2017 it is 43.4. RBI will release the FI-Index in the month of July every year. There is no base year for this Index.