With reference to the Digital Payments Index (DPI), consider the following statements:1. It is an initiative of NITI Aayog.2. The DPI for March 2019 and March 2020 work out to 153.47 and 207.84 respectively, indicating appreciable growth.Which of the statements given above is/are correct?a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?

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Which of the statements given above is/are correct?

a)
1 only
b)
2 only
c)
Both 1 and 2
d)
Neither 1 nor 2

Correct answer is option 'B'. Can you explain this answer?

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With reference to the Digital Payments Index (DPI), consider the follo...

The Reserve Bank of India (RBI) has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country.

The RBI-DPI has been constructed with March 2018 as the base period.
The DPI for March 2019 and March 2020 work out to 153.47 and 207.84 respectively, indicating appreciable growth.
The RBI-DPI comprises five broad parameters, including Payment Enablers, Payment Infrastructure – Demand-side factors and Supply-side factors, Payment Performance and Consumer Centricity,” the banking regulator said.
RBI-DPI shall be published on RBI’s website on a semi-annual basis from March 2021 onwards with a lag of 4 months.
The digital payments ecosystem is currently dominated by large technology players including Paytm, PhonePe, Google Pay, and recently launched WhatsApp Payments.
India’s UPI payments had shot up 82 per cent in the current fiscal year’s Q2 along with a 99 per cent jump in value from the year-ago period, according to the Worldline India Digital Payments report.

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With reference to the Digital Payments Index (DPI), consider the following statements:1. It is an initiative of NITI Aayog.2. The DPI for March 2019 and March 2020 work out to 153.47 and 207.84 respectively, indicating appreciable growth.Which of the statements given above is/are correct?a)1 only b)2 only c)Both 1 and 2 d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?

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