Digital payments see rapid growth in March-September, says RBI

The index, launched by RBI in Jan, has five broad parameters that enable the measurement of deepening and penetration of digital payments in the country over different time periods

The Reserve Bank of India’s (RBI) digital payments index (DPI), which was launched in January 2021 to indicate the extent of digitisation of payments across the country, shows that the index for September 2021 stood at 304.06 against 270.59 in March. This indicates the rapid adoption and deepening of digital payments across the country.

In a statement, the RBI said, “The RBI-DPI Index continues to demonstrate significant growth in adoption and deepening of digital payments across the country.”

In March 2019, the index stood at 153.47 and by September 2019, it rose to 173.49, followed by 207.94 in March 2020,