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Wednesday, April 14, 2021

RBI to publish Financial Inclusion Index

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Commercial banks surpass target of agri credit in FY19: RBIMumbai, April 7 (IANS) To measure the extent of financial inclusion in the country, the Reserve Bank of India will construct and periodically publish a “Financial Inclusion Index” (FI Index).

The FI Index would be based on multiple parameters and shall reflect the broadening and deepening of financial inclusion in the country, a statement on regulatory and developmental policies of RBI said.

To begin with, the FI Index will be published annually in July for the financial year ending previous March.

“Financial Inclusion has been a thrust area for the government, the Reserve Bank and other regulators, with significant progress made over the years. To measure the extent of financial inclusion in the country, the Reserve Bank proposes to construct and publish a Financial Inclusion Index (FI Index) based on multiple parameters,”RBI Governor Shaktikanta Das said in a virtual address after the Monetary Policy Committee’s bi-monthly meeting.

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Source: IANS

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