The Reserve Bank of India (RBI) said it has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country. This is a significant development given the sharp pick-up in digital transactions seen in the recent past. The RBI-DPI comprises five broad parameters that enable the measurement of deepening and penetration of digital payments in the country over different time periods. These parameters are Payment Enablers, Payment Infrastructure – Demand-side factors, Payment Infrastructure – Supply-side factors, Payment Performance and Consumer Centricity, the RBI said. In value terms, UPI transactions to the tune of Rs 3.9 lakh crore happened while IMPS transactions worth Rs 2.76 lakh crore happened. Also, RTGS transactions worth Rs 79.8 lakh crore and NEFT worth Rs 22.18 lakh crore were reported, the data showed.

(Moneycontrol)