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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