RBI Governor launches financial inclusion dashboard Antardrishti

Tags: Economy/Finance National News

Reserve Bank of India Governor Shaktikanta Das launched a financial inclusion dashboard named 'Antardrishti' on 6 June.

An overview of the news

• The dashboard will provide necessary insights to assess and monitor the progress of financial inclusion by capturing relevant parameters.

• The progress of financial inclusion will be assessed against set parameters through an Antardrishti dashboard. Along with this, it will also help in monitoring.

• With the help of the dashboard, the areas of lack of financial services on a large scale in the country can be detected and then work will be done on the basis of this.

• Currently, the Antardrishti Dashboard will be used internally by RBI.

• Multi stakeholder approach will be adopted for the Antardrishti Dashboard to enhance financial inclusion in future.

Financial Inclusion Index

• The Financial Inclusion Index was launched in 2021 to measure financial inclusion.

• In this, financial inclusion is measured on the basis of access, utility and quality.

• This index also includes information related to banking, investment, insurance and postal services etc. of an area.

• This index ranges from 0 to 100.

• 0 indicates complete financial exclusion, while 100 indicates complete financial inclusion.

Reserve Bank of India (RBI)

• Reserve Bank of India was set up under the Reserve Bank of India act 1934. It started functioning from 1 April 1935.

• It was nationalized in 1949 and now the government of India is the owner of RBI.

• It has the power to regulate Banks under the Banking Regulation Act 1949.

• It has the power to regulate the Non-Banking Financial Company (NBFC) under the RBI act 1934.

• RBI is also the regulator of the digital payment system under the Payment and settlement act 2007.

• Headquarters of RBI: Mumbai 

• Governor of RBI : Shaktikanta Das