RBI launches Financial Inclusion Index

Financial inclusion is an important component of inclusive growth in 21st century India. Discuss.(250 words)

Approach:

• Introduce by giving a definition of Financial inclusion and its relation with inclusive growth
• A diagram showing various components of financial inclusion (Like Bank account, Credit availability, Financial literacy etc.)
• Status of financial inclusion in India
• Government efforts in this direction and impact of Financial Inclusion Index introduced by RBI in tracking financial inclusion in India.
• Way forward / Conclusion