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The Reserve Bank of India’s (RBI) Digital Payments Index, a measure of the extent of digitisation of payments across the country, increased to 418.77 in September 2023 from 395.57 in March 2023. • The RBI-DPI index has increased across all parameters and was driven particularly by growth in payment enablers, payment performance, and consumer centricity across the country over the period. • The RBI-DPI has been constructed with March 2018 as the base period, that is, the DPI score for March 2018 is set at 100. • The RBI-DPI comprises five broad parameters that measure the penetration of digital payments in the country over different time periods. •These parameters include Payment Enablers (weight 25 per cent), Payment Infrastructure – Demand-side factors (10 per cent), Payment Infrastructure – Supply-side factors (15 per cent), Payment Performance (45 per cent), and Consumer Centricity (5 per cent). • The central bank publishes the RBI-DPI on a semi-annual basis with a lag of four months. Learn Along: About RBI Founded: 1 April 1935 Headquarters: Mumbai Governor: Shaktikanta Das
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The pilot of CBDC in the wholesale segment, known as the Digital Rupee -Wholesale (e₹-W), was launched on November 1, 2022, with use cases being limit...