RBI Governor Shaktikanta Das recently launched a financial inclusion dashboard named ‘Antardrishti’. It will provide the required insight to assess and monitor the progress of financial inclusion by capturing relevant parameters.
This facility will also enable to gauge the extent of financial exclusion at granular levels across the country so that such areas can be addressed, it said.
Presently, the dashboard is intended for internal use in the RBI, it said, adding it will further facilitate greater financial inclusion through a multi-stakeholder approach.
The Reserve Bank has been promoting financial inclusion through various policy initiatives.
To measure the extent of financial inclusion, it said, the central bank had constructed the Financial Inclusion (FI) Index in 2021, based on three dimensions of financial inclusion — ‘Access’, ‘Usage’ and ‘Quality’.
The FI-Index has been conceptualised as a comprehensive index incorporating details of banking, investments, insurance, postal as well as the pension sector in consultation with the government and respective sectoral regulators.
The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.
RBI has launched a number of financial inclusion programs to promote financial literacy and access to financial services for all.
The RBI also runs regular financial literacy campaigns through print, electronic, and social media. The campaigns aim to raise awareness about financial issues and help people make informed financial decisions.
The RBI’s financial literacy initiatives have been successful in raising awareness about financial issues.
(With PTI inputs)