![Separator Separator](https://www.ceoinsightsindia.com/images/line.png)
Financial Inclusion is Improving
![Separator Separator](https://www.ceoinsightsindia.com/images/line.png)
![Financial Inclusion is Improving Financial Inclusion is Improving](https://www.ceoinsightsindia.com/uploaded_images/newstransfer/el2p.sujith-mangru.jpg)
Sujith Vasudevan, Managing Editor, 0
The program has been a considerable success with 44.82 Crore banking accounts opened so far under the scheme with a cumulative balance of Rs. 160,839.87 crore. Today, 1.26 lakh Bank Mitras deliver branchless banking services in Sub Service Areas under the scheme.
To effectively track and enhance financial inclusion in the country, the Reserve Bank of India (RBI) last year had constructed a composite Financial Inclusion Index (FI-Index) based on multiple parameters that will reflect the broadening and deepening of financial inclusion in the country. The annual FI-Index for the period ending March 2021 is 53.9 as against 43.4 for the period ending March 2017.
Needless to say, we are still miles away from where we want to be.It takes a collaborative approach to improve the FI-Index, wherein the private sector banks and NBFCs will have to play an instrumental role. In this edition, we have researched and curated a meticulous bunch of stories from the BFSI segment.
Do let us know your thoughts.
To effectively track and enhance financial inclusion in the country, the Reserve Bank of India (RBI) last year had constructed a composite Financial Inclusion Index (FI-Index) based on multiple parameters that will reflect the broadening and deepening of financial inclusion in the country. The annual FI-Index for the period ending March 2021 is 53.9 as against 43.4 for the period ending March 2017.
Needless to say, we are still miles away from where we want to be.It takes a collaborative approach to improve the FI-Index, wherein the private sector banks and NBFCs will have to play an instrumental role. In this edition, we have researched and curated a meticulous bunch of stories from the BFSI segment.
Do let us know your thoughts.