Current affair diary 5/01/2021

Report and indices

Digital Payments Index (DPI)

√The RBI has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country.

√The RBI-DPI has been constructed with March 2018 as the base period.

√The DPI for March 2019 and March 2020 work out to 153.47 and 207.84 respectively, indicating appreciable growth.

√The RBI-DPI comprises five broad parameters: Payment Enablers, Payment Infrastructure – Demand-side factors and Supply-side factors, Payment Performance and Consumer Centricity

√RBI-DPI shall be published on RBI’s website on a semi-annual basis from March 2021 onwards with a lag of 4 months.

√India’s UPI payments had shot up 82% in the current fiscal year’s Q2 along with a 99% jump in value from the year-ago period, according to the Worldline India Digital Payments report.

?focus area for prelims 2021:
√DPI published by
√ aim of the index

#GALLANT IAS

28/01/2021
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