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RBI Governor Launches Financial Inclusion Dashboard ‘Antardrishti’

RBI Governor Shaktikanta Das recently unveiled a new financial inclusion dashboard called ‘Antardrishti.’ The dashboard aims to provide valuable insights and track the progress of financial inclusion by capturing relevant data. This initiative further reinforces the RBI’s commitment to promoting financial inclusion through a collaborative approach involving multiple stakeholders.

Assessing Financial Exclusion at a Local Level

One of the key features of the ‘Antardrishti’ dashboard is its ability to assess the extent of financial exclusion at a local level across the country. By identifying areas with higher levels of financial exclusion, policymakers can focus on implementing targeted measures to address these gaps and promote greater financial inclusivity.

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Internal Use and Multi-Stakeholder Approach

Initially designed for internal use within the RBI, the ‘Antardrishti’ dashboard is expected to play a crucial role in facilitating financial inclusion. By adopting a multi-stakeholder approach, the dashboard aims to involve various entities such as government agencies, regulators, and financial institutions in the collective effort to enhance financial inclusion in India.

The Financial Inclusion Index

In 2021, the RBI developed the Financial Inclusion (FI) Index as a comprehensive tool to measure the extent of financial inclusion. The FI-Index integrates information from various sectors, including banking, investments, insurance, postal services, and pensions. It provides a holistic assessment of financial inclusion, assigning a single value ranging from 0 to 100, where 0 represents complete financial exclusion and 100 signifies complete financial inclusion.

Parameters and Dimensions of the FI-Index

The FI-Index comprises three broad parameters with different weightage: Access (35%), Usage (45%), and Quality (20%). Each parameter includes various dimensions that are computed using a range of indicators. By evaluating these dimensions, policymakers can gain insights into the effectiveness of financial inclusion efforts and identify areas that require further attention.

Enhancing Financial Inclusion Policies

The launch of the ‘Antardrishti’ dashboard is another significant step by the Reserve Bank of India to promote financial inclusion. It reinforces the RBI’s commitment to implementing policy initiatives that support financial inclusion. By leveraging the insights provided by the dashboard, policymakers can make informed decisions to enhance financial inclusion measures and bridge the gap between the underserved and mainstream financial systems.

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