&w=3840&q=100)
RBI's financial inclusion index hits 67 in March 2025, reflecting growth
'Improvement in the financial inclusion index in FY25 is contributed by usage and quality dimensions, reflecting the deepening of financial inclusion, and sustained financial literacy initiatives,' RBI said in its statement.
'The steady rise in the Financial Inclusion Index to 67 is a clear indication that India is moving beyond access to real usage and trust in financial services. It reflects the success of ecosystem-wide efforts to bring underserved communities into the formal financial fold, not just digitally, but meaningfully,' said Deepak Verma, MD & CEO, FINDI.
The FI Index is a comprehensive index incorporating details of banking, investments, insurance, postal, as well as the pension sector, in consultation with the government and respective sectoral regulators.
The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.
The FI Index comprises three broad parameters: Access, with a 35 per cent weightage; Usage, with a 45 per cent weightage; and Quality, with a 20 per cent weightage.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
40 minutes ago
- The Print
Gold climbs Rs 400 to Rs 98,020/10 g; silver rises Rs 500
In the national capital, gold of 99.5 per cent purity appreciated by Rs 300 to Rs 97,800 per 10 grams (inclusive of all taxes) on Monday. The yellow metal had settled at Rs 97,500 per 10 grams in the previous market close. On Friday, the precious metal of 99.9 per cent purity had closed at Rs 97,620 per 10 grams. New Delhi, Aug 4 (PTI) Gold prices climbed Rs 400 to Rs 98,020 per 10 grams in the national capital on Monday due to fresh buying by stockists, according to the All India Sarafa Association. In addition, silver prices increased Rs 500 to Rs 1,10,000 per kilogram (inclusive of all taxes) on Monday. The white metal had finished at Rs 1,09,500 per kg on Friday. 'Gold prices traded very strong, driven by a weak rupee and disappointing US macroeconomic data on Friday. The data supported gold prices in the international market, which climbed to USD 3,355 per ounce. 'Tariff-related concerns and rupee depreciation added to the upside momentum. In the week ahead, investors will shift their focus to the upcoming RBI monetary policy meeting and US manufacturing data to provide further guidance on the trajectory of bullion prices in the near-term,' Jateen Trivedi, VP Research Analyst — Commodity and Currency, LKP Securities. Meanwhile, spot gold was trading flat at USD 3,363.83 per ounce in New York. 'Spot gold is trading at USD 3,355 per ounce as risk assets are bid on rate cut hopes; however, sharp decline in the Indian rupee on tariff concerns supports the domestic gold prices,' Praveen Singh, Associate Vice President, fundamental currencies and commodities, at Mirae Asset Share Khan, said. However, spot silver rose 0.43 per cent to USD 37.20 per ounce in the overseas markets. PTI HG TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
an hour ago
- Time of India
Currency watch: Rupee drops 48 paise to 87.66 against dollar; FII outflows, tariff worries drag
AI image The rupee plunged 48 paise to close at 87.66 against the US dollar on Monday, weighed down by persistent foreign fund outflows, global trade concerns, and rising dollar demand from oil importers. The Indian currency opened at 87.21 and touched an intraday low of 87.73 at the interbank foreign exchange market before settling 48 paise lower from its previous close of 87.18. On Friday, the rupee had staged a sharp rebound of 47 paise, PTI reported. Forex traders attributed the pressure to renewed fears over a wider trade disruption after US President Donald Trump's tariff measures resurfaced. Demand from oil marketing companies also added to the rupee's weakness. 'We expect the rupee to remain weak amid uncertainty over the India-US trade deal and foreign institutional investor (FII) outflows,' said Anuj Choudhary, Research Analyst, commodities and currencies, Mirae Asset Sharekhan. 'However, weakness in the US dollar amid chatter over rate cut expectations in the US due to weak economic data may support the rupee at lower levels,' he added. Choudhary expects the USD-INR pair to trade in a range of 87.40 to 88. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bogota: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo Traders are now eyeing factory order data from the US and the Reserve Bank of India's upcoming monetary policy. The six-member Monetary Policy Committee (MPC), chaired by RBI Governor Sanjay Malhotra, began its three-day meeting on Monday. The outcome of the rate decision will be announced on Wednesday. Brent crude futures fell 1.06% to $68.93 per barrel as OPEC+ confirmed a production hike from September, while softening demand expectations in the US and tariff risks also weighed. The US dollar index, which measures the greenback's strength against six major currencies, was down 0.37% at 98.77. Dilip Parmar, Senior Research Analyst at HDFC Securities, said the rupee's fall was also driven by foreign fund withdrawals and liquidity adjustments linked to a maturing $5 billion forex swap conducted by the RBI. "The forward premium rates also jumped to reflect the potential interest rate differential between the US and India after Friday's jobs data," he noted. US non-farm payroll data showed the economy added just 74,000 jobs in July, well below expectations of 106,000. The June figure was sharply revised to 14,000 from the earlier estimate of 147,000 — increasing pressure on the Federal Reserve to cut interest rates. Despite the currency weakness, Indian equities ended higher. The BSE Sensex gained 418.81 points to close at 81,018.72, while the Nifty climbed 157.40 points to 24,722.75. FIIs remained net sellers, pulling out Rs 2,566.51 crore from domestic equities on Monday, as per exchange data. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
The Hindu
2 hours ago
- The Hindu
‘RBI's campaign for financial inclusion saturation plan, re-KYC covers a third of total gram panchayats'
The Reserve Bank of India's (RBI) nation-wide campaign for saturation of financial inclusion (FI) schemes and re-KYC at gram panchayat level has achieved one-third coverage of the targeted area. During the first month of campaign which started on July 1 and continue till September 30, saw 1.05 lakh camps being conducted in the GPs. During this period, more than six lakh PMJDY accounts were opened, and seven lakh plus enrolments under PMJJBY took place with approximately 12 lakh enrolments under PMSBY and three lakh enrolments under APY, according to data provided by the RBI. Re-KYC has been done in 14.22 lakh bank accounts through the camp mode. The camps are conducted by various commercial banks. As part of the campaign, banks are holding camps at GP level to provide these services at the door step for re-verification of KYC of existing Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts as well as other bank accounts, opening of PMJDY accounts for unbanked adults and enrolment under social security schemes, i.e., Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojaya (PMSBY) and Atal Pension Yojana (APY). The camps are also being utilised to create awareness about unclaimed deposits and to redress grievances. The local administrative machinery is supporting the initiative and Department of Financial Services (DFS), Government of India and Reserve Bank of India are monitoring the progress closely. Given the magnitude of the coverage to be achieved over the ensuing months, banks have been permitted to use the services of Business Correspondents in the re-KYC process. Accordingly, BCs are also participating in the camps along with banks present in the GPs to facilitate customers in updating their KYC status.
