Which of the following statements are correct regarding the "Financial Inclusion Index (FI-Index)" as per the Reserve Bank of India (RBI)?
- The FI-Index improved to 64.2 in March 2024 from 60.1 in March 2023 due to growth across all sub-indices, particularly in the 'Usage' parameter.
- The FI-Index is composed of three broad parameters: ‘Access’ (35%), ‘Usage’ (45%), and ‘Quality’ (20%).
- The FI-Index is published annually with a base year to track financial inclusion progress across the country.
1
Only 1 and 2 are correct
2
Only 2 and 3 are correct
3
Only 1 and 3 are correct
4
All are correct
5
None are correct