RBI Digital Payment Index Base Period Determination
The Reserve Bank of India (RBI) introduced the Digital Payment Index (DPI) to track the progress of digital payments across the country. This index measures the extent of digitization of payment systems.
The DPI is a composite index that reflects the average change in the level of digital payment adoption over time. To establish a baseline for comparison and measure growth effectively, a specific base period is chosen.
The RBI has designated March 2018 as the base period for calculating the Digital Payment Index (DPI). All index values are computed relative to this base period, where the DPI value is set at 100.
Correct Answer Explanation
The question asks for the base period established by the RBI for its Digital Payment Index (DPI). Based on the RBI's official communication and methodology:
- The base period chosen for the RBI Digital Payment Index (DPI) is March 2018.
- This means the DPI value for March 2018 is considered 100, and subsequent changes in digital payment adoption are measured against this benchmark.
Therefore, the correct option is the one indicating March 2018.
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In which year was The Reserve Bank of India was established?
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Which of the following statements about the Reserve Bank of India (RBI) is NOT correct?
