In a significant move towards enhancing financial inclusion in India, Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), launched a Financial Inclusion Dashboard called अंतर्दृष्टि (ANTARDRIHSTI) today. This interactive dashboard will serve as a comprehensive tool to assess and monitor the progress of financial inclusion by capturing relevant parameters. Its primary objective is to provide valuable insights into the extent of financial inclusion and identify areas that require attention.
The ANTARDRIHSTI Financial Inclusion Dashboard, developed by the RBI, is initially intended for internal use within the organization. It will enable policymakers to gain a granular understanding of the level of financial exclusion across the country, thereby facilitating targeted efforts to address these areas effectively. The dashboard’s multi-stakeholder approach aims to foster collaboration and coordination among various stakeholders in advancing financial inclusion.
Financial inclusion has been a key focus for the Reserve Bank of India, which has implemented numerous policy initiatives to promote accessible and inclusive financial services for all. In 2021, the RBI introduced the Financial Inclusion (FI) Index, a comprehensive measure of financial inclusion based on three dimensions: ‘Access,’ ‘Usage,’ and ‘Quality.’
The launch of the ANTARDRIHSTI Financial Inclusion Dashboard marks another significant step towards the RBI’s ongoing commitment to deepen financial inclusion in the country. By providing policymakers and regulators with real-time insights, the dashboard will enable them to gauge the progress of financial inclusion initiatives and identify areas that require additional attention or intervention.
The dashboard’s robust analytics and visualizations will allow stakeholders to monitor the effectiveness of various policies and initiatives implemented to enhance financial inclusion. It will provide a comprehensive overview of the status of financial inclusion in India, highlighting both the achievements and the gaps that need to be addressed.
With the ANTARDRIHSTI Financial Inclusion Dashboard, the RBI aims to drive a more inclusive financial ecosystem by empowering policymakers, regulators, and other stakeholders with accurate data and actionable insights. By understanding the challenges and barriers to financial inclusion at a granular level, the RBI can develop targeted strategies to bridge the gaps and ensure that all segments of society have access to formal financial services.
Financial inclusion plays a pivotal role in fostering economic growth, reducing inequality, and empowering individuals and businesses with the tools they need to thrive. The ANTARDRIHSTI Financial Inclusion Dashboard signifies the RBI’s dedication to this cause and reinforces its commitment to building a more inclusive and equitable financial landscape in India.
As the dashboard expands its scope and becomes more accessible to external stakeholders, it is expected to serve as a valuable resource for policymakers, researchers, financial institutions, and development agencies. Together, through collaborative efforts, India can continue to make significant strides in achieving comprehensive financial inclusion, driving sustainable and inclusive economic development for all.