Financial Inclusion Index (Download PDF)

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Financial Inclusion Index is a single composite index, which gives snapshot of level of financial inclusion that would guide Macro Policy perspective. Union Minister of Finance & Corporate Affairs launched Financial Inclusion Index in New Delhi.

Image of Enabling Financial Inclusion

Image of Enabling Financial Inclusion

Image of Enabling Financial Inclusion

Financial Inclusion Index

  • Department of Financial Services (DFS), Ministry of Finance will release Annual Financial Inclusion Index (FII).

  • Single composite index gives snap shot of level of financial inclusion that would guide Macro Policy perspective.

  • Index will be measure of access & usage of basket of formal financial products & services that includes savings, remittances, credit, insurance & pension products.

  • Index will have 3 measurement dimensions:

  • Access to financial services

  • Usage of financial services

  • Quality

Utility of Index

  • Various components of index will help to measure financial services for use of internal policy making.

  • Financial Inclusion Index can be used directly as composite measure in development indicators.

  • It enables fulfillment of G20 Financial Inclusion Indicators requirements.

  • It will facilitate researchers to study impact of financial inclusion & other macro-economic variables.

Definitions of Financial Inclusion

  • Financial inclusion defined as process of ensuring access to financial services & timely & adequate credit where needed by vulnerable groups such as weaker sections & low-income groups at affordable cost.

- Published/Last Modified on: October 30, 2018

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