UPSC Articles
Digital Payments Index (DPI) by RBI
Part of: GS Prelims and GS-III – Economy
In news
- The RBI has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country.
Key takeaways
- The RBI-DPI has been constructed with March 2018 as the base period.
- The DPI for March 2019 and March 2020 work out to 153.47 and 207.84 respectively, indicating appreciable growth.
- The RBI-DPI comprises five broad parameters: Payment Enablers, Payment Infrastructure – Demand-side factors and Supply-side factors, Payment Performance and Consumer Centricity
- RBI-DPI shall be published on RBI’s website on a semi-annual basis from March 2021 onwards with a lag of 4 months.
Do you know?
- The digital payments ecosystem is currently dominated by large technology players including Paytm, PhonePe, Google Pay, and recently launched WhatsApp Payments.
- India’s UPI payments had shot up 82% in the current fiscal year’s Q2 along with a 99% jump in value from the year-ago period, according to the Worldline India Digital Payments report.
