The Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley  launched the Financial Inclusion Index after his Annual Performance Review Meeting with CEOs of the Public Sector Banks in New Delhi. Department of Financial Services (DFS), Ministry of Finance will release an Annual Financial Inclusion Index (FII) which will be a measure of access and usage of a basket of formal financial products and services that includes savings, remittances, credit, insurance and pension products. The index will have three measurement dimensions; (i) Access to financial services (ii) Usage of financial services and (3) Quality.

The single composite index gives a snap shot of level of financial inclusion that would guide Macro Policy perspective. The various components of the index will also help to measure financial services for use of internal policy making. Financial Inclusion Index can be used directly as a composite measure in development indicators. It enables fulfilment of G20 Financial Inclusion Indicators requirements. It will also facilitate researchers to study the impact of financial inclusion and other macro-economic variables.

This will be released on January, 2019.

Financial Inclusion Index as a composite measure to guide macro policy and monitor access, usage and quality of financial services. The Financial Inclusion Index is an annual composite measure published by the Department of Financial Services that aggregates access, usage and quality of formal financial products and services - including savings, remittances, credit, insurance and pension products - to provide a snapshot for macro policy guidance and to support policy formulation and research.