Digital payments record 24% annual growth at end of Sept 2022: RBI

Digital payments across the country registered a growth of 24.13 per cent in a year through September 2022, as per RBI’s index that measures the adoption of online transactions.

The newly-constituted RBI’s Digital Payments Index (RBI-DPI) stood at 377.46 in September 2022 against 349.30 in March 2022 and 304.06 in September 2021.

“The RBI-DPI Index has increased across all parameters driven by significant growth in payment infrastructure and payment performance across the country over the period,” Reserve Bank of India (RBI) said in a statement on Tuesday.

The central bank had announced the construction of a composite RBI-DPI in March 2018 as a base to capture the extent of digitisation of payments across the country.