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Question

With reference to the Financial Inclusion Index, consider the following statements:

I.It was developed by the RBI in 2020, without any ‘base year', and is published in July every year.

II.It captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.

III.It comprises three broad parameters (weights indicated in brackets) viz., Access (35%), Usage (45%), and Quality (20%) with each of these consisting of various dimensions, which are computed based on a number of indicators.

Which of the following statements is/are TRUE? 

A Only I Correct Answer Incorrect Answer
B Only II Correct Answer Incorrect Answer
C Only II & III Correct Answer Incorrect Answer
D Only I & III Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

It was developed by the RBI in 2021, without any ‘base year', and is published in July every year. It captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.It comprises three broad parameters (weights indicated in brackets) viz., Access (35%), Usage (45%), and Quality (20%) with each of these consisting of various dimensions, which are computed based on a number of indicators.

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