Google trend - GIFT Nifty

GIFT Nifty - 10 things to know with detail

• GIFT Nifty stands for Gujarat International Finance Tec-City (GIFT) National Financial Inclusion Index. It is a financial inclusion index developed by the GIFT City in partnership with CRISIL and the Centre for Microfinance.
• The index measures the extent of financial inclusion in Indian states and union territories based on four key parameters: branch penetration, deposit penetration, credit penetration, and insurance penetration.
• Branch penetration refers to the availability of banking branches in a particular region, while deposit penetration measures the proportion of households with a bank account. Credit penetration looks at the extent to which households have access to credit, and insurance penetration measures the percentage of households with insurance coverage.
• The GIFT Nifty index provides a comprehensive picture of financial inclusion across different regions in India, helping policymakers and financial institutions identify areas that need improvement.
• The index is calculated on a scale of 0 to 100, with higher scores indicating better levels of financial inclusion. States and union territories are ranked based on their GIFT Nifty scores.
• The GIFT Nifty index is updated annually to track changes in financial inclusion levels over time and assess the impact of policies and initiatives aimed at promoting financial inclusion.
• The index serves as a valuable tool for policymakers, regulators, and financial institutions to monitor progress towards achieving the goal of universal financial inclusion in India.
• By promoting financial inclusion, the GIFT Nifty index aims to improve access to financial services for underserved populations, reduce inequality, and promote economic growth and development.
• The index can also be used by researchers, academics, and development practitioners to analyze trends and patterns in financial inclusion and identify best practices for promoting inclusive finance.
• Overall, the GIFT Nifty index plays a crucial role in advancing financial inclusion efforts in India and supporting the country's goal of building a more inclusive and sustainable financial system.