It was launched in September, 2018 as an instrument to measure the access and usage of a basket of formal financial products and services that includes savings, remittances, credit, insurance and pension products.
The Index has 3 major dimensions – Access to financial services, Usage of financial services and Quality.
It is being annually released by Department of financial services, Ministry of Finance.
Benefits
Financial Inclusion Index can be used directly as a composite measure in development indicators.
It enables fulfillment of G20 Financial Inclusion Indicators requirements.
It will also facilitate researchers to study the impact of financial inclusion and other macro-economic variables.
