BS EDIT: An Inclusive Index: Tracking India’s Financial Reach

By Business StandardPublished On Jul 28, 2025

Financial Inclusion Index Rises

India’s FI Index rose to 67 in 2025, up steadily since 2021. It reflects growing access, usage, and quality of financial services across the country

What the Headline Number Misses

The national index hides vast regional and sectoral gaps. A single score can't show where financial exclusion still persists or where help is most needed

Lack of Disaggregated Data Hurts Policy

The RBI doesn’t publish state- or district-level data, nor component-wise scores — limiting the index’s usefulness for targeted financial planning

Access vs. Usage: The Real Gap

Millions now have bank accounts, but many lie inactive. Insurance, credit, and pensions remain out of reach for most in informal and remote sectors

Infrastructure and Data Privacy Key

To deepen inclusion, India needs better digital infra, more acceptance points, and strong safeguards for user data and consent

Better Data, Better Strategy

The FI Index is a good start. But publishing granular data is crucial for inclusive, effective financial policymaking at the local level