RBI Governor Shaktikanta Das has introduced a financial inclusion dashboard called ‘Antardrishti’ to assess and monitor the progress of financial inclusion in India. This dashboard will provide valuable insights into the relevant parameters and help identify areas of financial exclusion at a detailed level across the country.
Initially, the dashboard will be used internally by the RBI but is expected to promote greater financial inclusion through collaboration with multiple stakeholders.
The RBI has been actively promoting financial inclusion through various policy initiatives. In 2021, they developed the Financial Inclusion (FI) Index to measure the extent of financial inclusion. This index combines information from different aspects of financial inclusion into a single value ranging from 0 to 100.
A score of 0 represents complete financial exclusion, while 100 indicates full financial inclusion. The FI index considers three dimensions: ‘Access’, ‘Usage’, and ‘Quality’, and incorporates data from banking, investments, insurance, postal services, and the pension sector in consultation with the government and sector regulators.
According to the RBI statement, the launch of the Antardrishti dashboard marks another significant step towards deepening financial inclusion in India.