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‘Financial inclusion index should disclose all parameters’
Business Standard
|January 26, 2026
The National Strategy for Financial Inclusion (NSFI) 2025-30 has shifted the focus from basic access to enhancing the usage, quality and resilience of financial services.
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Reserve Bank of India (RBI) Governor Sanjay Malhotra said in August that notwithstanding the considerable progress (made in financial inclusion), the Financial Inclusion Index (FI-Index) has scope for further improvement in usage and quality while also addressing gaps in access. Sumita Kale, chief executive officer and senior fellow of Indicus Foundation, in an email interview with Raghu Mohan, discusses issues around the Fl-Index and its recalibration. Edited excerpts:What according to you are the shortcomings in the FI-Index?
The purpose of any data or index is to guide policy and strategy by pointing out where we have progressed and which gaps remain to be filled. But the FI-Index, as it stands today, does literally nothing to serve this purpose. The levels of the sub-indices of “access”, “usage” and “quality” have not been released regularly. In fact, in the latest RBI “Report on Trend and Progress of Banking in India” (FY25), just the overall Fl-Index is reported at 67 in March 2025, up from 43.4 in 2017 with no values for the sub-indices. The full list of 97 parameters that make up this Fl-Index is not available.
What does this lead to on the visibility front in this space?
Diese Geschichte stammt aus der January 26, 2026-Ausgabe von Business Standard.
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