RBI's Digital Payments Index Rises 12.6% YoY in March 2024.

Index

The Reserve Bank of India's (RBI) Digital Payments Index (DPI) saw a significant year-on-year increase of 12.6%, reaching 418.7 in March 2024, up from 371.5 in March 2023. The DPI, which tracks the extent of digitization of payments across the country, reflects robust growth in digital transactions. The increase highlights the ongoing shift towards cashless transactions in India, driven by increased smartphone usage, government initiatives, and the expansion of digital infrastructure. The RBI introduced the DPI in January 2021 to measure the penetration and effectiveness of digital payments in India.


      Increased digital literacy and financial inclusion are driving the growth of digital payments in India.

      RBI's DPI reflects significant growth in both urban and rural digital payment adoption across the country.

     

 

     


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CEO : Shaktikanta Das
Headquarter : Mumbai
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