SDG 8: Decent Work and Economic Growth | SDG 10: Reduced Inequalities
Reserve Bank of India (RBI) | Ministry of Finance
The Reserve Bank of India (RBI) has released the National Strategy for Financial Inclusion (NSFI): 2025–30, setting a strategic vision for strengthening India’s financial ecosystem, aligned with the 2030 UN Agenda for Sustainable Development. The strategy, developed in consultation with all financial sector regulators (SEBI, IRDAI, PFRDA) and key institutions (NABARD, NCFE) , is centered on achieving the overall wellbeing of people by emphasizing the effective usage and quality of financial services.
Key Strategic Objectives (Panch Jyoti):
Financial Services: Improving the availability and use of Equitable, Responsible, Suitable, and Affordable financial services to achieve Financial Safety and Security.
Vulnerable Segments: Adopting a Gender-Sensitive Approach for women-led financial inclusion and differentiated strategies for improving the Financial Resilience of Underserved and Vulnerable segments.
Livelihood Synergy: Synergizing Livelihood, Skill Development, and Support Ecosystems with financial inclusion.
Financial Discipline: Leveraging Financial Education as a tool for promoting Financial Discipline.
Protection: Strengthening the Quality and Reliability of Customer Protection and Grievance Redressal Measures.
Progress (NSFI 2019-24 Achievements):
Digital Deepening: The Financial Inclusion Index (FI-Index) improved significantly, rising from 49.9 to 64.2. The Digital Payments Index (DPI) surged from 153.47 to 445.50.
Access & Infrastructure: 99.9 percent of targeted villages were provided with some form of banking access. The number of Fixed-Point Business Correspondents (FBCs) rose rapidly, providing last-mile reach.
Social Security Growth: Enrollment in Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) increased to 16 crore, and Atal Pension Yojana (APY) subscribers grew at a CAGR of 42%.
Financial Inclusion means the process of ensuring access to financial services, timely and adequate credit where needed by vulnerable groups such as weaker sections and low-income groups at an affordable cost. The NSFI 2025-30 aims for outcomes rooted in a “quadrangle” of Financial Safety, Security, Resilience, and Discipline.
Policy Relevance
The NSFI 2025–30 is a critical institutional roadmap for India’s financial sector regulators, marking a strategic shift from simply measuring access (which is now near universal) to prioritizing usage and quality. The focus on leveraging Digital Public Infrastructure (DPI) (Aadhaar, UPI, Account Aggregator) and addressing specific impediments like the skewed distribution of Business Correspondents (BCs) and the lack of financial literacy is paramount for reducing economic inequality and achieving sustainable, long-term inclusive growth in line with SDG targets.
Follow the full news here: National Strategy for Financial Inclusion 2025-30