RBI launches Digital payments index to track transactions

The RBI-DPI comprises five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.

The Reserve Bank of India (RBI) has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country. The RBI-DPI comprises of five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.

The index has been constructed with March 2018 as the base period, with a DPI score for of 100.

The DPI for March 2019 and March 2020 work out to 153.47 and 207.84, respectively, indicating appreciable growth.

The RBI-DPI comprises five broad parameters that enable the measurement of deepening and penetration of digital payments in the country over different time periods.

These parameters are Payment Enablers, Payment Infrastructure – Demand-side factors, Payment Infrastructure – Supply-side factors, Payment Performance and Consumer Centricity, the RBI said