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 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.
“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 are including Payment Enablers (weight 25%), Payment Infrastructure – Demand-side factors and (10%), Payment Infrastructure – Supply-side factors (15%), Payment Performance (45%) and Consumer Centricity (5%),” the banking regulator said.
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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