Consider the following statements CRISIL Inclusix is India 39 s first financial inclusion index to m...........

Economic Affairs Financial Inclusion

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Consider the following statements

CRISIL Inclusix is India's first financial inclusion index to measure progress in financial inclusion across the country.
The index weighs three service providers – banks, insurers and micro-finance institutions.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

CRISIL Inclusix, India’s first financial inclusion index, was launched in 2013 with the objective of creating a dependable yardstick that would become a policy input to further the cause of inclusion.

CRISIL Inclusix is a unique index to measure the extent of financial inclusion in India across its 666 districts. It uses a statistically robust, transparent, and easy-to understand methodology, and is based on a modular, scalable architecture.

It is a relative index on a scale of 0 to 100, and combines four critical parameters of basic financial services - branch penetration, deposit penetration, credit penetration, and insurance penetration - into one metric.

In the latest edition of CRISIL Inclusix, life insurance data has been incorporated for the first time.

CRISIL Inclusix, weighs three service providers (banks, insurers and microfinance institutions) on four dimensions (branch, credit, deposit and insurance).