As many as 45 of India’s top 50 districts that offer affordable,
formal financial services are in four south Indian states—with 30
concentrated in Tamil Nadu and Kerala—according to CRISIL Inclusix, a
measure of financial inclusion.
The top five states/union territories are Puducherry, Kerala, Tamil Nadu, Goa and Chandigarh.
These states drove a surge in India’s financial inclusion index, which improved to 50.1 (of a possible 100) at the end of 2013 from 42.8 at the end of 2012.
The index does not take into account the Prime Minister’s Jan Dhan Yojana (People’s Wealth Scheme). With over 140 million new bank accounts opened since August 2014, the index will likely be boosted further in 2015.
CRISIL, a Mumbai-based ratings agency, defines financial inclusion as “the extent of access by all sections of society to formal financial services such as credit, deposit, insurance and pension services”.
CRISIL’s Inclusix is a relative index that combines three parameters of basic financial services—branch penetration, deposit penetration and credit penetration
The top five states/union territories are Puducherry, Kerala, Tamil Nadu, Goa and Chandigarh.
These states drove a surge in India’s financial inclusion index, which improved to 50.1 (of a possible 100) at the end of 2013 from 42.8 at the end of 2012.
The index does not take into account the Prime Minister’s Jan Dhan Yojana (People’s Wealth Scheme). With over 140 million new bank accounts opened since August 2014, the index will likely be boosted further in 2015.
CRISIL, a Mumbai-based ratings agency, defines financial inclusion as “the extent of access by all sections of society to formal financial services such as credit, deposit, insurance and pension services”.
CRISIL’s Inclusix is a relative index that combines three parameters of basic financial services—branch penetration, deposit penetration and credit penetration
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