Digital payments in India see 10.7% growth: RBI index

India’s digital payments ecosystem continues its upward trajectory, with transactions rising 10.7% year-on-year by the end of March 2025, according to the Reserve Bank of India (RBI).

The data comes from the RBI-Digital Payments Index (RBI-DPI), a composite index the central bank has published semi-annually since January 2021 to track the pace and penetration of digital payments across the country. The index uses March 2018 as the base year (set at 100), as per a report by PTI.

As per the latest update, the RBI-DPI stood at 493.22 in March 2025, up from 465.33 in September 2024 and 445.5 in March 2024.

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The rise was largely attributed to robust improvements in the payment infrastructure (particularly supply-side factors) and overall payment performance, the RBI noted in its statement.

The index measures digital payment adoption across five key parameters - payment Enablers (25%), payment infrastructure – Demand-side (10%), payment infrastructure – supply-side (15%), payment performance (45%), consumer centricity (5%).

This steady growth signals deeper digitisation and financial inclusion, underpinned by improved access, faster transactions, and rising consumer trust in online payments.

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