India ranks low in financial inclusion list
India has been ranked poorly, even below African countries like Kenya and Moracco, in the first-ever index of financial inclusion.
By PTI |
NEW DELHI: India has been ranked poorly, even below African countries like Kenya and Moracco, in the first-ever index of financial inclusion.
India has been placed at the 50th spot, much above Russia but below China, in the index of financial inclusion (IFI) prepared by the Indian Council for Research on International Economic Relations (ICRIER).
The financial inclusion index, which gives the extent of availability and usage of banking services in key nations of the world, is based on indicators like number of bank accounts per 1,000 adults, number of ATMs and bank branched per million people and amount of bank credit and deposit.
Spain has occupied the top position in the IFI, which is based on 2004 data, followed by Canada and Portugal, while countries including Nepal, Zimbabwe and Bostwana are at the bottom of the list.
India has been placed at the 50th spot, much above Russia but below China, in the index of financial inclusion (IFI) prepared by the Indian Council for Research on International Economic Relations (ICRIER).
The financial inclusion index, which gives the extent of availability and usage of banking services in key nations of the world, is based on indicators like number of bank accounts per 1,000 adults, number of ATMs and bank branched per million people and amount of bank credit and deposit.
Spain has occupied the top position in the IFI, which is based on 2004 data, followed by Canada and Portugal, while countries including Nepal, Zimbabwe and Bostwana are at the bottom of the list.
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