India’s Central Bank To Measure Digitization

The Reserve Bank of India (RBI) is moving forward with plans to publish an index showing the extent of digital payment adoption in the country, a top executive at the bank told an online conference hosted by a trade group Wednesday (Sept. 9), according to published reports.

“RBI is in the process of … constructing and periodically publishing a composite digital payment index (DPI) to capture the extent of digitization. The DPI could be the key to accurately measure the deepening and penetration of digital payments across the country,” T. Rabi Sankar, executive director of the bank, said in a U.S.-India Business Council webinar.

Sankar told the group digital payments in the country are expanding quickly, but said penetration remains low among populations that could especially benefit from using them, the financial news site Live Mint reported.

Earlier this year, the RBI said

Read More