Digital Payment Index lanuched By RBI - MAINS QUESTION - DAILY CURRENT AFFAIR QUESTIONS AND ANSWERS

Wednesday, January 6, 2021

Digital Payment Index lanuched By RBI

Digital payment index


Reserve Bank of India recently released Digital Payments Index to measure growth in cashless transactions in India recently


About the index:

Reserve Bank of India has set the base year 2018 of digital payment index.

In its determination 5 parameters like payment performance, Payment Enablers, payment infrastructure are considered as the basis. Payment performance is assigned the highest weight (45%). 

The Digital Payments Index for the year 2019 was 153.47 and for 2020 was 207.84.

From March 2021, the Reserve Bank of India will publish the digital payment index on a half-yearly basis.

Other facts:

Digital transactions have seen a boom in India in the recent past december 223 crores of digital transactions were done.

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