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  • The pace of financial inclusion in India is ticking up at a substantial pace, according to latest data from the Reserve Bank of India or RBI. In consultation with the concerned stakeholders including the Government, the RBI had constructed a composite Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion across the country, which was first published in August 2021 for the FY ending March 2021. Index for the year ending March 2023 has since been prepared. The value of FI Index for March 2023 stands at 60.1 vis-?-vis 56.4 in March 2022, with growth witnessed across all sub-indices. Improvement in FI Index was mainly contributed by Usage and Quality dimensions, reflecting deepening of financial inclusion.

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