<h1 class="ql-align-center">Financial Inclusion Index (FI-Index)&nbsp;</h1> <h2>Context:</h2> <ul><li>Recently, the Reserve Bank of India (RBI) has unveiled the first composite Financial Inclusion Index (FI-Index)&nbsp;</li></ul> <h2>Financial Inclusion Index:</h2> <ul><li>The 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.</li></ul> <ul><li>Aims to capture the extent of financial inclusion across the country on various aspects in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.</li></ul> <ul><li>It has been constructed without any ‘base year’ and as such it reflects cumulative efforts of all stakeholders over the years towards financial inclusion</li></ul> <ul><li>It comprises three broad parameters and these parameters are the identification of the customer, reaching the last mile, and providing relevant, affordable, and safe products.</li></ul><ol><li class="ql-indent-3">Access (35%)</li><li class="ql-indent-3">Usage (45%)</li><li class="ql-indent-3">Quality (20%)&nbsp;</li></ol> <img src="https://sunyaias-resources.s3.ap-south-1.amazonaws.com/content/4ddf6d7f-3221-11ec-be72-6dfae63711cd.png">