RBI Governor Unveils Antardrishti, a Financial Inclusion Dashboard
- ByStartupStory | June 6, 2023
On Monday, Shaktikanta Das, the RBI Governor, unveiled ‘Antardrishti,’ a financial inclusion dashboard. The Reserve Bank of India (RBI) stated that the dashboard, as its name implies, will offer valuable insights to evaluate and track the advancements in financial inclusion. It will comprehensively capture relevant parameters, enabling effective monitoring of progress.
The introduction of this feature will also provide the means to assess the degree of financial exclusion at detailed levels nationwide, thus allowing for targeted measures to address those areas, stated the RBI. Currently, the dashboard is designed for internal use within the RBI, with the aim of promoting enhanced financial inclusion through a collaborative approach involving multiple stakeholders.
Through several policy initiatives, the Reserve Bank has actively fostered financial inclusion. In order to gauge the level of financial inclusion, the central bank developed the Financial Inclusion (FI) Index in 2021. This index is structured around three key dimensions: ‘Access,’ ‘Usage,’ and ‘Quality.’ By collaborating with the government and sectoral regulators, the FI-Index encompasses a wide range of information from the banking, investment, insurance, postal, and pension sectors, providing a comprehensive assessment of financial inclusion.
The FI-Index consolidates data on diverse facets of financial inclusion into a single numerical value, ranging from 0 to 100. A score of 0 signifies complete financial exclusion, while a score of 100 signifies comprehensive financial inclusion.
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