The RBI said that though it has not recommended any particular AFA, the payment mediums have largely adopted SMS-based One Time Password (OTP). But now, RBI wants to look into new ways to authenticate online transactions.
RBI s Digital Payments Index (RBI-DPI) stood at 418.77 at end-September 2023 compared to 377.46 in September 2022 and 395.57 in March 2023. The index comprises five broad parameters that enable the measurement of the depth and penetration of digital payments in the country over different periods.
Get latest articles and stories on Latest News at LatestLY. Digital payments across the country registered a growth of 10.94 per cent in a year through March 2023, as per RBI's index that measures the adoption of online transactions. Latest News | Digital Payments Rise 10.94 Pc Annually at September-end 2023: RBI Data.