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RBI’s Digital Payments Index Rises to 493.22

  • 30 Jul 2025

On 28th July 2025, the Reserve Bank of India (RBI) announced that its Digital Payments Index (RBI-DPI) surged to 493.22 in March 2025, up from 465.33 in September 2024 — indicating a robust expansion of digital transactions across the country.

Key Points

  • Index Overview: The RBI-DPI, launched in January 2021 with March 2018 as the base period (set at 100), measures the extent of digitisation of payments in India.
  • Fourfold Growth Since 2018: The index has shown consistent growth — from 153.47 in March 2019 to 493.22 in March 2025 — over four times the base value.
  • Key Growth Drivers: The latest rise is attributed to enhanced Payment Infrastructure (Supply-side) and Payment Performance, including expanded merchant networks, increased QR code usage, and rapid growth in UPI transactions.
  • Government & Tech Push: Initiatives like Digital India, broader smartphone adoption, and rising fintech innovation continue to fuel the digital payment revolution.
  • Policy Significance: RBI-DPI serves as a vital tool for policymakers to assess progress, guide digital payment initiatives, and address gaps in financial inclusion.