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Abstract This study aims to estimate the level of financial inclusion (FI) among the states of India for a two decades. To know this study constructed a FI index then a two-stage PCA method was used. Secondary data from the Reserve Bank of India (RBI) and Economic and Political Weekly Research Foundation (EPWRF) reports for 2000–2020 is used. The study has determined an overall FI index using the dimensions of availability, Penetration, and Usage. The results show that Goa, Kerala and Tamil Nadu states topped with high FI, while Mizoram, Nagaland, Manipur, and Meghalaya states ranked with low FI in the entire study period. The close coordination between the RBI, Government, NABARD, and the other implementing agencies will result in the achievement of financial inclusion in a short period. JEL Classification: G21, G22, G28, C43, B26
Kasturi et al. (2024) studied this question.