Context

• The Reserve Bank of India’s (RBI) Digital Payments Index (DPI) rose to 465.33 as of September 2024, compared to 445.5 in March 2024.

Foundational pillars of the digital economy

1. Data

2. Talent

3. Innovation

About DPI

• Launched: January 2021
• Index indicates the extent of digitisation of payments across the country.
• DPI has been constructed with March 2018 as the base period.
• DPI score for March 2018 is set at 100.
• First-of-its kind index to measure the spread of digital payments across the country.
• Index published semi-annually.
• It enables the measurement of deepening and penetration of digital payments in the country over different time periods.

DPI index comprises 5 broad parameters:

1. Payment enablers (25% weightage in the index)

2. Demand-side payment infrastructure factors (10%)

3. Supply-side payment infrastructure factors (10%)

4. Payment performance (45%)

5. Consumer centricity (5%)

RBI

• Recommendation: Hilton Young Commission (1926)
• Statutory basis: RBI Act, 1934
• Estb: 1st April, 1935
• HQ: Mumbai
• Nationalised: 1949
• First Governor: Osborne Smith (1935-37)
• First Indian Governor: C.D. Deshmukh (1943-49)
• Current Governor: Sanjay Malhotra