SSC CHSL 2025 PYQ — Question 80

The correct answer is Option 3: Both I and II.
Explanation:

• The Financial Inclusion Index (FI-Index), released by the Reserve Bank of India (RBI), is primarily based on three key parameters. Both options provided in the question serve as its main pillars:
• Access (35% Weightage): This parameter measures the extent to which banking and financial services are accessible to the public (e.g., the number of bank branches, ATMs, and banking correspondents).
• Usage (45% Weightage): This parameter assesses the extent to which people are actually utilizing these services (e.g., savings accounts, credit, insurance, and remittances).
• Quality (20% Weightage): This focuses on the quality of services, financial literacy, consumer protection, and grievance redressal mechanisms.

Key Facts about the Financial Inclusion Index (FI-Index):

• Issuer: This index is released annually by the Reserve Bank of India (RBI).
• Score: It is calculated on a scale ranging from 0 to 100, where 0 represents complete financial exclusion and 100 represents complete financial inclusion.
• Key Feature: The most distinctive feature of this index is that it does not have a 'Base Year'; instead, it reflects cumulative progress compared to previous years.

Important Questions for Upcoming Examinations:

Question: By whom was the Financial Inclusion Index (FI-Index) developed and released?
Answer: Reserve Bank of India (RBI).
Question: Which parameter is accorded the highest weightage in the FI-Index?
Answer: Usage (45%).
Question: What is the Government of India's flagship scheme for financial inclusion?
Answer: Pradhan Mantri Jan Dhan Yojana (PMJDY).