RBI - Digital Payments Index

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Relevance: " RBI’s Digital Payments Index increases across all parameters " - The Hindu

It was announced in  Statement on Developmental and Regulatory Policies as part of the Sixth Bi-monthly Monetary Policy Statement for 2019-20 dated February 06, 2020.

The RBI-DPI comprises of 5 broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods. These parameters are – 

(i) Payment Enablers (weight 25%) ( Sub Parameters: Internet, Mobile, Aadhaar, Bank Accounts, Participants, and Merchants ), 

(ii) Payment Infrastructure – Demand-side factors (10%) ( Sub Parameters: Debit Cards, Credit Cards, Prepaid Payment Instruments, Customers Registered - Mobile & Internet Banking, and FASTags ), 

(iii) Payment Infrastructure – Supply-side factors (15%) ( Sub Parameters: Bank Branches, Business Correspondants, ATMs, PoS Terminals, QR Codes, and Intermediaries ), 

(iv) Payment Performance (45%) ( Sub Parameters: Digital Payment Systems - Volume, Digital Payment Systems - Value, Unique Users, Paper Clearing, Currency in Circulation, and Cash Withdrawals ),

(v) Consumer Centricity (5%)  ( Sub Parameters: Awareness and Education, Declines, Complaints, Frauds, and System Downtime ).

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