Digital payments rise 13% YoY at March-end 2023: RBI data

Digital payments across the country registered a growth of 13.24% in a year through March 2023, as per RBI’s index that measures the adoption of online transactions. RBI’s Digital Payments Index (RBI-DPI) stood at 395.57 at end-March 2023 compared to 377.46 in September 2022 and 349.30 in March 2022.

“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 Thursday.