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.
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.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
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.
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.
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.
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.
Also Read: Govt Approves Digital Communication Framework Between Banks and CEIB
Find More News Related to Banking
Dr. Bhimrao Ramji Ambedkar, also known as the "Father of the Indian Constitution," was a…
The RBI Governor is the Chief Executive Officer of the Central Bank of India and the…
Chaudhary Charan Singh (23 December 1902 – 29 May 1987) was a prominent Indian politician…
Rajasthan is a state in north-western India, known for its rich history, beautiful palaces, forts…
PV Sindhu is one of India's most celebrated badminton players, known for her exceptional skills,…
Wood is a natural material used in furniture, tools and decoration. It comes from trees…