Digital payments across India saw a 12.6% YoY rise as of March 31, 2024, according to the Reserve Bank of India's (RBI) index measuring online transaction adoption.

The RBI's Digital Payments Index (RBI-DPI) stood at 445.5 at the end of March 2024, compared to 418.77 in September 2023 and 395.57 in March 2023.

"The RBI-DPI index has increased across all parameters, driven by significant growth in payment performance and payment infrastructure across the country over the period," the Reserve Bank of India stated in a release.

The central bank introduced the composite RBI-DPI in March 2018 to capture the extent of digitization of payments nationwide. The index comprises 5 broad parameters to measure the deepening and penetration of digital payments over different periods.