M & E Framework

The Monitoring and Evaluation (M&E) framework captures success or level of achievements relative to the set expected outcomes of any action. M & E Framework of NFIS is developed to track the progress of the implementation of NFIS.

Financial inclusion is commonly measured in three dimensions: access to financial services; usage of financial services; and quality of the products and service delivery mechanism. Access to financial products and services basically indicates the ability to use the services and products offered by formal financial institutions. Eligibility and nearness are two important criteria to evaluate access. Usage of financial products and services reflects the frequency, extent and duration of usage over time. The usage indicators take count of ownership of Account with financial institutions; Account by the vulnerable groups; and digitally accessible Account. The quality of financial products and services reveals how relevant a financial service or product is to customers. Quality issues are associated with costs of the services, barriers, financial literacy, and consumer protections. Both supply-side and demand-side data will be needed to form a comprehensive understanding of access, usage, and quality.