The Reserve Bank of India has informed that the Financial Inclusion Index of the FI index for Financial Year 2025 has improved and stands at 67 percent as compared to 64.2 percent for FY 2024.
According to an official press release, RBI has said that the improvement in the index is largely due to increased usage and better quality, reflecting deepening of financial inclusion, and sustained financial literacy initiatives.
It added that growth was witnessed across all sub-indices, which include, Access, Usage and Quality.
The Access parameter reflects how easily financial services are available, the Usage parameter indicates how frequently and effectively people are using these services, while the Quality parameter includes aspects like financial literacy, consumer protection, and reduction in inequalities and service deficiencies.
It may be recalled that RBI had constructed a composite Financial Inclusion Index in consultation with all stakeholders, including the government and the first FI index was published in August 2021 for the Financial Year ending March 2021.
The index also includes data from various sectors such as banking, investments, insurance, postal services, and pensions, making it a comprehensive measure of financial inclusion in the country.
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