Crisil has found that states in South India have topped on financial inclusion parameters. Crisil has recently released a new index on financial inclusion.
The study showed that Puducherry topped the list followed by Chandigarh and Kerala. Most of the top slots were occupied by smaller States and Union territories.
Crisil used bank branch, credit and deposit penetration (per lakh population) to assign scores to each district and then arrived at a score for every state and Union Territory.
The states of Manipur, Nagaland and Bihar remained in the bottom of the index. Nine out of the ten least scoring states on the index were in the eastern and north-eastern regions.
In terms of districts, 103 of the 107 districts in the South had scores higher than the national average, with 36 making it to the top 50 list for the country. In fact, 17 of the top 20 districts were from southern states and Union Territories with Mumbai (11), Mumbai suburban (16) and Chandigarh (18) being the exceptions.