RBI-Digital Payments Index (RBI-DPI)
Reserve Bank of India introduces the RBI-Digital Payments Index (RBI-DPI).
The Reserve Bank of India (RBI) announced the construction of a composite Reserve Bank of India – Digital Payments Index (RBI-DPI) in March 2018 as a base to capture the extent of digitization of payments across the country.
The index for September 2021 stands at 304.06 against 270.59 for March 2021, indicating appreciable growth.
The RBI-DPI comprises 5 broad parameters that enable measurement of the deepening and penetration of digital payments in the country over different time periods. These parameters are –
(i) Payment Enablers (weight 25%),
(ii) Payment Infrastructure – Demand-side factors (10%),
(iii) Payment Infrastructure – Supply-side factors (15%),
(iv) Payment Performance (45%) and
(v) Consumer Centricity (5%).
Each of these parameters has sub-parameters which, in turn, consist of various measurable indicators. The major sub-parameters under each parameter are attached.
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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