publish a “ financial inclusion index ” ( fi index ). the index will have parameters across the three dimensions of financial inclusion viz., access, usage and quality. work on fi index is underway and the index will be published shortly by the rbi. conclusion 20. as i conclude, i would like to reiterate that financial inclusion promotes inclusive growth by way of making financial services including credit and other safety nets available to the bottom of the pyramid. lessons from the past and experiences gained during the covid - 19 pandemic clearly indicate that financial inclusion and inclusive growth reinforce financial stability. greater financial literacy and education, together with sound consumer protection mechanisms will ensure that people at the bottom of the pyramid are empowered to take informed financial decisions. this will also enable banks, nbfcs, mfis, etc. to enhance their customer base and products and diversify their balance sheet. 21. i would like to emphasise that we must continue our efforts for greater financial inclusion in pursuance of the goal of sustainable future for all. there is need for accelerated universal reach of bank accounts along with access to financial products relating to credit, investment, insurance and pension. it is the responsibility of all stakeholders to ensure that the financial ecosystem ( including the digital medium ) is inclusive and capable of effectively addressing risks like mis - selling, cyber security, data privacy and promoting trust in the financial system through appropriate financial education and awareness. these efforts have to be supported by a robust grievance redressal mechanism. i look forward to interesting ideas and thoughts emanating from this forum which would enhance the process of financial inclusion in the country. thank you. namskar.

transferred digitally across 319 government schemes spread over 54 ministries during 2020 - 21. 13. to mitigate the financial impact of covid - 19 related disruptions, the reserve bank has taken several policy measures to ease flow of credit at a lower cost to needy segments. these measures include lowering of policy rate, launching of on - tap liquidity schemes and channelising of liquidity through all india financial institutions and facilitating financial institutions to resolve stressed loans to individuals, small business and msmes. cash reserve ratio ( crr ) exemption on credit disbursements to new msme borrowers ; psl classification for bank loans to nbfcs for on - lending and psl classification for loans from small finance banks ( sfbs ) to micro finance institutions ( mfis ) for on - lending were additional measures taken to promote credit flow to affected sectors. further, with an objective to provide more focus on inclusive development, the reserve bank last year broadened the scope of psl by ( a ) including start - ups ; ( b ) enhanced the limits for lending to renewable energy sector ; ( c ) increased the targets for small and marginal farmers and weaker sections ; and ( d ) 6 https : / / pmjdy. gov. in / incentivised banks to augment credit flows to districts with relatively lower credit penetration. 14. the pandemic has accelerated the push towards digitalisation with greater adoption of digital payments. it is important to take steps to converge greater digitalisation with goals of financial inclusion. operationalisation of payment infrastructure development fund ( pidf ) – an initiative of rbi together with banks and card networks – will provide the necessary impetus for development of payment acceptance infrastructure in tier - 3 to tier - 6 centres and north eastern states. this will facilitate greater deployment of electronic payment acceptance facilities ( for example point of sale devices ) in hitherto untapped areas, thereby furthering the reach of digital payments ecosystem. 15. similarly, the reserve bank ’ s pilot project in association with banks of making at least one district in each state / ut 100 per cent digitally enabled, which was rolled out in 2019, covering 42 districts, will facilitate greater access and usage of digital payments by the common man. as on march 2021, banks have achieved a digital coverage 7 of 95. 9 per cent of individuals while the achievement for businesses stood at 89. 8 per cent. the slbcs have been advised to give renewed focus and emphasis to ensure sustenance of the