WORLD NEWS
India News - According to information received by World News, the Reserve Bank of India (RBI) has created a Composite Digital Payment Index (DPI). From this index, it will be known to what extent digitization of payments has taken place across the country. This index will have 5 main parameters.
These 5 parameters will help in assessing the digital payments in the country over different time periods.
According to the information received by World News, according to the RBI statement, these parameters are - payment enablers, payment infrastructure-demand side factories, payment infrastructure-supply side factories, payment performance and consumer centricity.
Each of these parameters will have some sub-parameters and each sub-parameter will have many measurable indicators.
These 5 parameters will determine the performance of the index
1. Payment enablers (weightage 25%)
2. Payment Infrastructure-Demand Side Factors (Weightage 10%)
3. Payment Infrastructure-Supply Side Factors (Weight 15%)
4. Payment performance (weightage 45%)
5. Consumer Centricity (Weightage 5%)
Base period has been created on March 2018 with DPI score 100
According to information received by World News, the base period has been made in March 2018 in this index. The DPI score of the base period is kept at 100. According to this base, the DPI score of March 2019 is 153.47 and the DPI score of March 2020 is 207.84.
According to the statement, these scores indicate that there has been considerable growth in digital payments during these periods.
The index will be published on the RBI website every half year from March 2021
Further, the RBI-DPI will be published on the RBI website every six months. It will start from March 2021. The data that will be used in this index will be less than 4 months ago.
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