Financial inclusion in India has expanded rapidly, but the Financial Maturity Index (FMI) report 2026 by the Indian Institute of Management, Udaipur, and People Research on India’s Consumer Economy shows that access to banking and digital tools has not translated into stronger financial capability. Based on a household survey across Gujarat and Rajasthan, the report finds that while more people are part of the formal financial system, gaps in planning, risk awareness, and long-term preparedness remain. The survey included 4,075 households, out of which 1,884 were from Gujarat and 2,191 were from Rajasthan.

Published on April 28, 2026