Understanding the RBI Digital Payments Index (RBI-DPI) and Its Growth in India
| Aspect | Details |
|---|---|
| Event | Digital Payments Growth in India |
| Date | March 31, 2024 |
| Authority | Reserve Bank of India (RBI) |
| Index | RBI Digital Payments Index (RBI-DPI) |
| Index Value | 445.5 (March 2024), up from 418.77 (September 2023) and 395.57 (March 2023) |
| Growth Rate | 12.6% year-over-year increase |
| Factors for Growth | Improvement in payment performance and infrastructure |
| Introduction of RBI-DPI | Introduced in March 2018 |
| Purpose | Gauge the extent of digitization in payments across India |
| Parameters | 1. Payment Enablers (25%)2. Payment Infrastructure Demand-side Factors (10%)3. Payment Infrastructure Supply-side Factors (15%)4. Payment Performance (45%)5. Consumer Centricity (5%) |
| Publication Schedule | Semi-annually with a four-month reporting lag; regularly updated since March 2021 |