RBI creates composite FI-Index to capture extent of financial inclusion across country

The Reserve Bank of India has created a composite Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion across the country.   The announcement regarding the creation of the Financial Inclusion Index was made in the first Bi-monthly Monetary Policy Statement for 2021-2022 on 17 April.   The annual FI-Index for the period ending March 2021 is 53.9 against 43.4 for the period ending March 2017. The FI-Index will be published annually in July every year, the RBI said in a...