RBI comes up with Digital Payments Index
PTI
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DPI will be published on the central bank’s website on a semi-annual basis from March 2021 onwards The RBI on Friday said it has constructed a composite Digital Payments Index (DPI) with March 2018 as the base period to capture the extent of digitisation of payments across the country.
“The DPI for March 2019 and March 2020 work out to 153.47 and 207.84, respectively, indicating (an) appreciable growth,” it said in a statement.
Going forward, RBI-DPI will be published on the central bank’s website on a semi-annual basis from March 2021 onwards with a lag of four months.
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, added RBI. The five parameters, each of which have been assigned weightage and have sub-parameters under them are as below:
1. Payment enablers, with a weightage of 25 per cent. The sub-parameters under this are internet, mobile, Aadhar, bank accounts, participants and merchants.
2. Payment Infrastructure with demand-side factors, holds a weightage of 10 per cent. Debit and credit cards, prepaid payment instruments, mobile and internet banking and FASTag are part of this parameter.
3. Payment infrastructure with supply-side factors, with a weightage of 15 per cent. Bank branches, business correspondents, ATMs, PoS terminals, QR codes and intermediaries are the sub-parameters.
RBI comes up with Digital Payments Index
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RBI comes up with Digital Payments Index
PTI / Jan 1, 2021, 22:24 IST
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MUMBAI: The Reserve Bank of India (RBI) on Friday said it has constructed a composite Digital Payments Index (DPI) with March 2018 as the base period to capture the extent of digitisation of payments across the country. The DPI for March 2019 and March 2020 work out to 153.47 and 207.84, respectively, indicating (an) appreciable growth, it said in a statement.
Going forward, RBI-DPI will be published on the central bank s website on a semi-annual basis from March 2021 onwards with a lag of four months.
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