The Reserve Bank of India’s (RBI) digital payments index (DPI) in rose to 349.30 in March 2022, compared to 304.46 for September 2021, indicating digital payments are on the rise in the country led by unified payments interface (UPI). The index stood at 270.59 in March 2021. The central bank had developed the composite Reserve Bank of India (RBI) – Digital Payments Index (RBI-DPI) with March 2018 as the base year to assess the extent of digitisation of payments in the country.
“The RBI-DPI Index continues to demonstrate significant growth in adoption and deepening of digital payments across the country,” the central bank said in a press release.
RBI-DPI is published by the central bank on a semi-annual basis from March 2021 onwards with a lag of 4 months. The RBI-DPI comprises of 5 broad parameters including payment enablers, demand side factors of payment infrastructure, supply side factors of payment Infrastructure, payment performance and consumer centricity.