The Financial Inclusion Index of Reserve Bank of India in March, 2024 was:

Question

UnlockIAS · Accepted Answer

Correct — A, 64.2. The Reserve Bank's Financial Inclusion Index (FI-Index) for the period ending March 2024 stood at 64.2, against 60.1 for March 2023 — a rise of about 6.8 per cent. The RBI reported growth across all three sub-indices, with the Usage dimension contributing most to the improvement. The index is published every July for the financial year ending in March, so 'March 2024' refers to the value released in July 2024.

Why the other options are wrong — (b) A digit-swap of 64.2 and not a value the RBI has ever published for the FI-Index. This is the pure look-alike option.  (c) A real FI-Index value — but for March 2021, the first year for which the index was published. Right number, wrong year: the classic way this question is spoiled.  (d) Not an FI-Index value for any year. It sits just below the March 2023 figure of 60.1, which makes it look plausible to anyone who half-remembers the previous year's number.

Concept: The FI-Index is the Reserve Bank's single composite measure of how financially included the country is. It runs from 0 to 100, where 0 means complete financial exclusion and 100 means full inclusion, and it is built from 97 indicators spanning banking, investments, insurance, postal services and pensions. Three sub-indices make it up, with fixed weights: Access (35 per cent), Usage (45 per cent) and Quality (20 per cent) — the last capturing financial literacy, consumer protection and inequalities in service. The RBI constructed it without any base year, so the value itself, and not a change over a base, is what is reported.

State PCS 2026 Q84 — Economy PYQ with Answer

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