- The annual FII will be released by Department of Financial Services (DFS), Ministry of Finance.
- It will be measure of access and usage of basket of formal financial products and services that includes savings, remittances, credit, insurance and pension products.
- The index has three measurement dimensions
- Access to financial services
- Usage of financial services and
- Quality.
- It will serve as single composite index that will give snap shot of level of financial inclusion which will guide Macro Policy perspective.
- Significance of index:
- Its various components will help to measure financial services for use of internal policy making.
- It can be used directly as composite measure in development indicators.
- It will also enable to fulfil G20 Financial Inclusion Indicators requirements.
- It will also facilitate researchers to study the impact of financial inclusion and other macro-economic variables.