RBI constructing digital payment index to assess extent of digitisation: Executive Director T Rabi Sankar

The Reserve Bank of India (RBI) is in the process of constructing a digital payment index to assess the extent of digitisation in the country and innovation in existing modes and channels to bridge digital divide, a senior official of the apex bank said on Wednesday.

Observing that digital payments in India have been growing rapidly, RBI Executive Director T Rabi Sankar said there is still a lot of catching up to do as per-capita penetration is still quite low.

“RBI is in the process of…constructing and periodically publishing a composite digital payment index (DPI) to capture the extent of digitisation. The DPI could be the key to accurately measure the deepening and penetration of digital payments across the country,” he said while addressing a webinar organised by the US-India Business Council.