The Digital payment Index (RBI-DPI Index), that measures the extent of digitization of payments, was released by the Reserve Bank of India.
- Digital payment transactions reported a 40% year on year jump as of September 2021, as per the index.
- The Index stood at 304.06 during September 2021 as against 270.59 in March 2021 and 217.74 in September 2020.
About the RBI-DPI
- RBI had announced the construction of a composite Reserve Bank of India – Digital Payments Index (RBI-DPI) with March 2018 as base.
- The index comprises of 5 broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.
- The 5 broad parameters are – Payment Enablers (weight 25%), Payment Infrastructure – Demand-side factors (10%), Payment Infrastructure – Supply-side factors (15%), Payment Performance (45%) and Consumer Centricity (5%).
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