India central bank introduces digital payment index

India's central bank has launched a new digital payments index in a bid to measure the growth and adoption of digital payments in the country.

The Reserve Bank of India said Jan. 1 that the index comprises five key parameters: Payment enablers, payment infrastructure-demand-side factors, payment infrastructure-supply-side factors, payment performance and consumer centricity.

Each of these parameters have subparameters which, in turn, consist of various measurable indicators.

The index was constructed with March 2018 as the base period and it will be published semiannually from March onward with a lag of four months.