Examine the view that financial inclusion is an integral part of social and economic inclusion in a country like India. Also throw light on the usefulness of the R.B.I.'s Financial Inclusion Index.
Question source: insightsonindia.com
Write a timed answer in the appCurrent affairs to use in your answer
Centre and banks to settle UPI subsidy once merchant charges begin · 26 September 2026 · Covers one part · use it in the body
Use the UPI charge design to show how pricing of digital payments is being calibrated to protect inclusion of small users and merchants.
- From 15 October 2026 a 0.4% MDR (capped at ₹300) applies only to merchant UPI payments above ₹2,000; smaller payments, all P2P transfers and merchants receiving up to ₹1 lakh a month stay free.
- NPCI says transactions of ₹2,000 or less are over 96% of merchant volume, and the 2026-27 Budget keeps ₹2,000 crore to promote low-value BHIM-UPI and RuPay debit card use.
- Scale of digital inclusion: UPI handled 2,451 crore transactions worth ₹29.82 lakh crore in August 2026.
Also related
- PM Jan Dhan Yojana
PMJDY is the backbone of India's financial inclusion push and a major driver of the RBI's FI-Index.