Mumbai, Jan 1 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.
( With inputs from IANS )
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