Context:
The Reserve Bank of India (RBI) announced on July 22, 2025, that the Financial Inclusion Index (FI-Index) rose to 67 in the financial year ending March 2025 (FY25), up from 64.2 in FY24 and 60.1 in FY23. The index reflects a steady improvement in access, usage, and quality of formal financial services across India.
What is the Financial Inclusion Index (FI-Index)?
- Introduced: August 2021, with retrospective data for FY21.
- Range: 0 to 100, where:
- 0 = complete financial exclusion
- 100 = full financial inclusion
- Developed by: RBI in consultation with the government and regulators across banking, insurance, pensions, investments, and postal sectors.
- Three Dimensions:
- Access – 35% weight
- Usage – 45% weight
- Quality – 20% weight
| Year | FI-Index Value |
|---|---|
| FY23 | 60.1 |
| FY24 | 64.2 |
| FY25 | 67.0 |
- Improvements driven by:
- Increased usage of financial services
- Higher quality of access and delivery
- Continued financial literacy initiatives
Key Drivers of Growth
- Jan Dhan Yojana Impact:
- Total Accounts Opened: 558.3 million
- Rural/Semi-urban: 372.6 million
- Metro: 185.7 million
- Women account holders: 311.3 million
- Total Accounts Opened: 558.3 million
- Digital Financial Ecosystem: Unified Payments Interface (UPI), mobile banking, and Aadhaar-enabled services are contributing to deeper penetration and trust.
