As the Reserve Bank of India (RBI) had announced on 6th February, 2020 in the statement on Developmental and Regulatory Policies, now it has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country.
The RBI-DPI comprises of 5 broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.
The RBI-DPI has taken March 2018 as the base period. DPI score for March 2018 is set at 100. The DPI for March 2019 and March 2020 work out to 153.47 and 207.84 respectively, indicating appreciable growth.
It shall be published on RBI’s website on a semi-annual basis from March 2021 onwards with a lag of 4 months.