The country is experiencing a growth in digital payments, spurred in part by a unified payments interface, as seen by the Reserve Bank of India's (RBI) digital payments index (DPI), which grew from 304.46 in September 2021 to 349.30 in March 2022.
(UPI).
The index stood at 270.59 at the end of March 2021.
The central bank will start providing RBI-DPI on a semi-annual basis with a 4 month lag in March 2021. If you are preparing for competitive exams and looking for expert guidance, you can download our General Knowledge Free Ebook Download Now.
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Regarding the Digital Payment Index:
The central bank developed the composite Reserve Bank of India (RBI) - Digital Payments Index (RBI-DPI) using March 2018 as the base year to assess the level of payment digitisation in the country.
The RBI-DPI Index "continues to demonstrate a robust increase in acceptance and deepening of digital payments across the country," the central bank said in a news statement.
The RBI-DPI is divided into five main categories: payment enablers, demand side components of the payment infrastructure, supply side components of the payment infrastructure, payment performance, and customer-centricity.
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Source: Safalta.com
