Global Microscope for Financial Inclusion Report 2019

• The Global Microscope for Financial Inclusion Report 2019 has been released by the European Intelligence Unit.

What is new in this report?

• In the 2019 Edition of the report, 11 new indicators focused on gender, are introduced. These indicators feature financial inclusion for both women and men.

Predominant features of the Global Microscope for Financial Inclusion Report 2019

• The Research and Analysis Wing of the Economist Group rereleases the Global Microscope for Financial Inclusion Report 2019.
• The first publication of the Report came to the fore in the year 2007. There are basically four parameters of the countries under consideration while creating this report. These parameters are mentioned below:
• 1. Issuance of money by non-banking entities
• 2. presence of financial service agents,
• 3. effective financial consumer protection.
• 4. proportionate customer due diligence
• A total of 55 countries were taken into consideration while preparing this report.
• The countries which emerged as top scorers were Colombia, India, Peru and Uruguay. These countries scored well across all the above mentioned four parameters that are considered while preparing the list.
• Ranks:- India-5th, Columbia:-1st, Peru:-2nd, Uruguay:-3rd
• The Democratic Republic of Congo secured the 55th, i.e., the last position in the list of Global Microscope for Financial Inclusion Report 2019.
• In terms of inclusive finance, Mexico possesses the most suitable and conducive environment.
• India stands at 5th position in the list of Global Microscope for Financial Inclusion Report 2019
• Some more important facts regarding India with respect to the Global Microscope for Financial Inclusion Report 2019:-
• 1. Overall, it can be safely concluded without any doubt that India is possessing a conducive ambience for financial inclusion when it comes to non-banks that can issue e-money or proportionate customer due diligence
• 2. When it comes to safeguarding e-money, India happens to place itself at a very coveted position.

Important facts about European Intelligence Unit

• Founded-1946
• Headquarters:-London, UK.
• Parent Organization- The Economist Group

Question: 

Q: 1. When was the European Intelligence Unit founded?
A. 1975
B.1969
C.1947
D.1946
E.None of these
Answer: D

Explanation: As clearly mentioned at the end of the article, the EIU was founded in the year 1946.

Q: 2. What is India’s Rank in the Global Microscope for Financial Inclusion Report 2019?
A. 1st
B. 3rd
C. 2nd
D. 5th
E. None of these
Answer: D

Explanation: As mentioned in the passage India’s Rank is 5th

Q: 3. When did the first publication of the Global Microscope for Financial Inclusion Report 2019 Come out?
A. 2007
B. 2008
C. 2009
D. 1991
E. 2001
Answer: A

Explanation: For the first time the report was published was in the year 2007, as clearly mentioned in the passage.