Which one of the following correctly represents the three key sub-indices of the Financial Inclusion Index (FI-Index) of the Reserve Bank of India (RBI)?
Detailed Explanation:
The Reserve Bank of India (RBI) launched the Financial Inclusion Index (FI-Index) in 2021 to measure the extent of financial inclusion in India.
The FI-Index is based on three key sub-indices:
-
Access (35%) – Availability of financial services such as bank branches, ATMs, and digital infrastructure.
-
Usage (45%) – Actual use of financial services like savings accounts, credit, insurance, investments, and digital payments.
-
Quality (20%) – Financial literacy, consumer protection, and quality of financial services.
-
Therefore, Option C is the correct answer.
Why Other Options Are Wrong
| Option | What it includes | Why not this? |
|---|---|---|
| Credit access, Insurance depth, Pension coverage | Financial sectors covered by the index | Not the official sub-indices |
| Banking access, GDP contribution, Financial literacy | Mix of unrelated indicators | GDP contribution is not part of FI-Index |
| Access, Usage, Quality | Official RBI sub-indices | ✅ Correct Answer |
| Access, Affordability, Transparency | Related financial concepts | Not the RBI-defined sub-indices |
Question 1 of 5 Financial Inclusion
Practice PYQ questions from this topic across all years
First question in this topic
Consider the following statements : The Self-Help Group (SHG) programme was origin...