RBI to release Digital Payment Index by July 2020

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News:The Reserve Bank of India announced that it will create a Digital Payment Index by July 2020.

Facts:

About the Index:

  • Aim:To capture the extent of digitization of monetary payments in the country.
  • The index will have a classification of urban, semi-urban and rural geographies to analyze the kind of digital payments that are gaining acceptance.
  • It will also help the regulator and government to understand the adoption of digital payments in the country.