RBI rolls out digital payment index

Tuesday 5 January 2021 14:58 CET | News

The Reserve Bank of India (RBI) has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across India, according to

The RBI-DPI has been constructed with March 2018 as the base period. The DPI for March 2019 and March 2020 work out to 153.47 and 207.84 respectively, indicating appreciable growth. According to the banking regulator ‘the RBI-DPI comprises five broad parameters that enable the measurement of deepening and expansion of digital payments in the country over different time periods. These parameters include Payment Enablers (weight 25%), Payment Infrastructure – Demand-side factors (10%), and Payment Infrastructure – Supply-side factors (15%), Payment Performance (45%) and Consumer Centricity (5%).

Each of these parameters have sub-parameters which, in turn, consist of various measurable indicators. Going forward, RBI-DPI shall be published on RBI’s website on a semi-annual basis from March 2021 onwards with a lag of 4 months.

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Keywords: RBI, Reserve Bank of India, RBI, Digital Payments Index, DPI, digitisation, payments
Categories: Banking & Fintech
Countries: India
This article is part of category

Banking & Fintech