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RBI introduces Digital Payments Index
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SME Times News Bureau | 01 Jan, 2021
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 comprises of five broad
parameters that enable measurement of deepening and penetration of
digital payments in the country over different time periods.
These
parameters are 'payment enablers', 'payment infrastructure -- demand
side factors', 'payment infrastructure -- suppy side factors', 'payment
performance' and 'consumer centricity', said an RBI statement.
Each of these parameters have sub-parameters which, in turn, consist of various measurable indicators.
The
index has been constructed with March 2018 as the base period, with a
DPI score for of 100. The DPI for March 2019 and March 2020 work out to
153.47 and 207.84, respectively, indicating appreciable growth, said the
statement.
Going forward, the RBI-DPI shall be published on
RBI's website on a semi-annual basis from March 2021 onwards with a lag
of four months.
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