Which organisation reported a 12.6% year-on-year growth

Solution

The Reserve Bank of India (RBI) reported that its Digital Payments Index (RBI-DPI) rose to 445.5 at the end of March 2024, marking a 12.6% increase from the previous year. Launched in January 2021 with March 2018 as its base year, the RBI-DPI is a comprehensive measure designed to gauge the extent of digitization of payments across the country. The index reflects a sustained upward trend in digital payment adoption, indicating a growing preference for electronic transactions among Indian consumers.