Digital Payments Record 40% Annual Growth At Sep-End 2021: RBI Data

There was a 40 per cent growth in digital payments across the country in a year through September 2021 as per RBI's index

There was a 40 per cent growth in digital payments across the country in a year through September 2021, according to Reserve Bank of India's (RBI) digital payment index.

The index which measures adoption of online transactions, was at 304.06 during September 2021 as against 270.59 in March 2021 and 217.74 in September 2020.

“The RBI-DPI Index continues to demonstrate significant growth in adoption and deepening of digital payments across the country” the RBI said in a statement on Wednesday.

The central bank had announced construction of a composite RBI – Digital Payments Index (RBI-DPI) with March 2018 as base to capture the extent of digitisation of payments across the country.