CURRENT AFFAIRS

Detailed explanation-1: -Reuters RBI now publishes the index annually in July every year. The Reserve Bank of India’s composite financial inclusion index (FI-Index) capturing the extent of financial inclusion across the country rose to 56.4 in March 2022, showing growth across parameters. The index stood at 53.9 in March last year.

Detailed explanation-2: -The Reserve Bank of India had constructed a composite Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion across the country, in consultation with the concerned stakeholders including the Government and published it in August 2021 for the FY ending March 2021.

Detailed explanation-3: -The Reserve Bank of India (RBI) has been publishing a composite Reserve Bank of India – Digital Payments Index (RBI-DPI) since January 1, 2021 with March 2018 as base to capture the extent of digitisation of payments across the country. The index for September 2022 stands at 377.46 as against 349.30 for March 2022.

Detailed explanation-4: -It is a comprehensive index incorporating details of banking, investments, insurance, postal as well as the pension sector in consultation with the government and respective sectoral regulators. It was developed by the RBI in 2021, without any ‘base year’, and is published in July every year.

Detailed explanation-5: -The Reserve Bank released the 26th issue of the Financial Stability Report (FSR) on the 29th of December 2022. The report indicates the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system.