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Mahesh

30/07/22 22:30 PM IST

RBI’s digital payments index at 349.30 in March 2022

In News 
  • Recent data (March 2021-22) from the Index demonstrated significant growth, indicating rapid adoption and deepening of digital payments across the country.
Digital Payments Index 
  • 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.
  • It captures the extent of digitisation of payments across the country (with 2018 as a base year- score set as 100) and is published semi-annually.
  •  RBI has created a Payments Infrastructure Development Fund (PIDF)to encourage acquirers to deploy Points of Sale (PoS) infrastructure — both physical and digital modes — in tier-3 to tier-6 centres and northeastern states.
  • 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.
Source- Financial Express 

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