SSC CHSL 2025 PYQ — Question 80

The correct answer is Option 1: 67.
Explanation:
According to the latest data released by the Reserve Bank of India (RBI), the country's Financial Inclusion Index (FI-Index) rose to 64.2 at the end of March 2024; continuing its upward trajectory as per reports from March 2025, it has now reached a level close to 67.
Improvement: In March 2023, this index stood at 60.1. The increase reflects an improvement in the access to and usage of financial services—such as banking, investment, and insurance—across all regions of the country.
About the FI-Index: The RBI introduced this index in 2021 to measure the extent of financial inclusion within the country.
Scale: The index ranges from 0 to 100, where '0' signifies complete financial exclusion and '100' signifies complete financial inclusion.
Three Main Dimensions of the FI-Index:
This index is constructed based on three broad parameters:
Access (35% Weightage): The availability of banking outlets, ATMs, and mobile banking services.
Usage (45% Weightage): The actual utilization of savings accounts, credit facilities, insurance, and remittance services.
Quality (20% Weightage): Financial literacy, consumer protection, and the level of service deficiencies or grievances.
Key Government Initiatives for Financial Inclusion:
Pradhan Mantri Jan Dhan Yojana (PMJDY): Connecting millions of people to the formal financial system by opening bank accounts for them.
Digital India: Making digital payments accessible through UPI and BHIM.
Suraksha Bima Schemes: Providing life and accident insurance coverage at very low premium rates.
Potential Question for Upcoming Exams:
Question: At what interval is the RBI's Financial Inclusion Index (FI-Index) released?
Answer: Annually. Question: Which dimension has been assigned the highest weightage in the FI-Index?
Answer: Usage – 45%.
Question: Which specific factor has been included for the first time under the 'Quality' dimension?
Answer: Consumer Protection and Financial Literacy.