RBI Digital Payments Index

A composite Digital Payments Index (DPI) has been constructed by the RBI. This is to capture the extent of digitization of payments across the country. The construction of RBI­DPI has been in line with March 2018 as the base period. For March 2019 and March 2020, the DPI worked out to 153.47 and 207.84 respectively.

Digital Payments in India

Source: RBI

RBI­DPI

Publishing the Digital Payments Index on a semi-annual basis from March 2021.

Unified Payments Interface (UPI)

Digital transactions in the country increased from around 223 crores (worth 4.16 lakh crores of rupees) in December 2020 to 221 crores (worth 3.9 lakh crores of rupees) in November 2020.

Five Broad Parameters

  • Payment Enablers
  • Payment Infrastructure
  • Demand side factors
  • Supply-side factors
  • Payment Performance
  • Consumer Centricity

Sub Parameters of Payment Enablers of Digital Payments Index

  • Internet
  • Mobile
  • Bank account
  • Merchants
  • Participants

Sub Parameters of Payment Infrastructure of Digital Payments Index

  • Credit Card
  • Prepaid Payment Instruments
  • Debit Card
  • Point-of-sale Terminals
  • Quick Response Codes
  • Automated teller machines

Sub Parameters of Payment Performance of Digital Payments Index

  • Paper Clearing.
  • Cash Withdrawal Rules.
  • E volume and value of digital payments.
  • Unique users and currency in circulation.

Sub Parameters under Consumer Centricity of Digital Payments Index

  • Customer education and awareness
  • Complaints
  • Frauds
  • System declines under the consumer centricity of the Digital Payments Index

Examrace Team at Aug 12, 2021