Digital Payments Grew 40 Percent Year-on-year In September 2021 Said RBI

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Digital Payment Index: There has been a tremendous increase in digital payment across the country. Digital payments have grown by nearly 40 per cent year-on-year in September 2021. RBI has given information about this. According to the data released by the Reserve Bank of India, the Digital Payments Index (DPI) is showing good growth in September 2021 on a yearly basis.

Increase in DPI
According to this, the RBI-DPI (Digital Payment Index) stood at 304.04 in September 2021, while it stood at 270.59 in March 2021 and 217.74 in September 2020. RBI said in its statement, “The DPI index shows that there is a rapid growth in digital payments across the country.”

2018 was the base year
RBI had declared March 2018 as the base year while launching its Digital Payments Index. Since March 2021, RBI is releasing this index on a half-yearly basis with a gap of four months.

RBI started offline payment facility
Let us tell you that recently RBI has started the facility to transfer money without internet. Under this facility, you can transfer an amount of Rs 200 in one go. The total amount transferred will be limited to Rs.2,000. In offline payment, you can use card, wallet and mobile. This payment will be offline, so users will get SMS or email ‘Alert’ after some time.

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