What happened: PIB-backed account of India’s financial inclusion drive
PIB presents India’s financial inclusion push as a shift from basic account ownership to active participation in the formal financial system. The government framing links banking access networks, digital public infrastructure, and scheme-based social protection and credit to measure progress through RBI’s Financial Inclusion (FI) Index, World Bank Global Findex, and on-ground banking outlet coverage.
Key measurement pillars: RBI FI Index and World Bank Global Findex
Financial inclusion is tracked using indicators that go beyond “whether an account exists” to include access, usage, and service quality.
RBI’s Financial Inclusion (FI) Index (access–usage–quality):
RBI’s FI Index increased from 43.4 in March 2017 to 70.0 in March 2026, reflecting broad improvements across access, usage, and quality of financial services.
Related current affairs
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