RBI launched financial inclusion dashboard ‘Antardrishti’

06/06/2023

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RBI launched financial inclusion dashboard ‘Antardrishti’

A financial inclusion dashboard named ‘Antardrishti’ has been recently launched by RBI Governor Shaktikanta Das. Reserve Bank of India has informed that the dashboard is designed to render the service over the required insight to assess and monitor the progress of financial inclusion by capturing relevant parameters.

The dashboard will be used for internal use in the RBI presently but it will further alleviate greater financial inclusion through a multi-stakeholder approach.

The Reserve Bank has been boosting financial inclusion through various policy initiatives.

Financial Inclusion:

The definition of financial inclusion is ‘availability and equality of opportunities to access financial services’. It relates to accessibility towards appropriate, affordable, and timely financial products and services for individuals and businesses.

There are main pillars of financial inclusion:

Universal accessibility towards financial services
Effective Co-ordination
Providing basic bouquet of financial services
Customer Protection and Grievance Redressal
Financial literacy and Education

Financial Inclusion Index:

The central bank, Reserve Bank of India had built the Financial Inclusion (FI) Index in 2021 to measure the extent of financial inclusion based on three dimensions of financial inclusion ‘Access’, ‘Usage’ and ‘Quality’.
The FI-Index has been carried as a comprehensive index integrating details of banking, investments, insurance, postal as well as the pension sector in consultation with the government and respective sectoral regulators.
The index collects information some important parts of financial inclusion in a single value that ranges 0 and 100.
Its and increasing value with high level of financial inclusion i.e. 0 denotes complete financial exclusion where 100 denotes full financial inclusion.