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India is advancing its access to the formal financial services, as Reserve Bank of India (RBI) increasing the Financial Inclusion (FI) Index from 67 to 70 in the FY26. The increase in the FI Index occurred mainly due to the rise in the use of financial services, while the country’s three sub-indices Access, Usage, and Quality, it continue to improve as well. The current standing of the index demonstrates how the country makes continuous efforts to strengthen the financial inclusion through banking, digital payments, insurance, pensions, and investing services, contributing to economic growth and inclusive development.
RBI Financial Inclusion Index Reaches 70
The Reserve Bank of India has announced that the Financial Inclusion (FI) Index rose to 70 for the year ending March 2026 compared to 67 in March 2025.
This increase reflects increased access, and usage of financial services.
The improvement is attributed to the following factors are,
- Growing usage of financial services.
- The expansion of formal financial systems in the economy.
What is Financial Inclusion Index by RBI?
The Financial Inclusion (FI) Index is an indicator introduced by the Reserve Bank of India to measure the level of financial inclusion in the country.
It was designed to track financial inclusion as of 2021.
The FI Index includes a wide range of sectors like,
- Banking
- Investments
- Insurance
- Postal financial systems
- Pension schemes
The FI Index is developed in consultation with the Government of India and relevant financial authorities.
Parameters of the Financial Inclusion Index
The Reserve Bank of India determines the Financial Inclusion Index based on three major elements that carry different weights.
1. Access (35%)
This refers to the extent of financial service availability. It comprises,
- Bank branches
- ATMs
- Banking correspondents
- Outreach of financial services
2. Usage (45%)
This component carries the largest weight and is concerned with how people make use of financial services. It consists of indicators such as the,
Bank account activities
- Digital payments
- Savings and deposits
- Use of credit
- Entry into insurance
- Enrolment in pension plans
According to the Reserve Bank of India witness, the improvement in FY26 can be attributed mostly to higher usage. This means that citizens have started to use formal financial products more actively.
3. Quality (20%)
As for the quality parameter, it assesses,
- The performance of financial services
- Consumer protection
- Financial literacy
- Availability of necessary financial products
- Quality of service delivery
The Financial Inclusion Index (FI Index) and its Scale
The FI Index is scored from 0 to 100.
- 0 = No financial access.
- 100 = Total financial access.
For example, India, which has scored 70, it is making headway in becoming fully financially inclusive, although some advancements still need to take place.
Why Financial Inclusion is Important
Financial inclusion is regarded as one of the most important factors for the development of inclusive economy.
With the increase in financial inclusion,
- Drive Inclusive Growth
- Encourage Savings
- Facilitate Access to Credit
- Foster the Use of Digital Payments
- Improve the Delivery of Public Benefits
