MacroRisk
…
CIOI183.5+0.0%DPRI126.2+26.7%ITVI124.3+13.3%RLDI116.2+1.9%STEI81.6-6.6%
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DPRIinfrastructureLive120 publications

Digital Payments Reliability Index

Measured in basis points of technical decline.

Latest fixing
126.2 +26.7%
Chain verified ✓Two engines agreed
200 · corridor ceiling30 · corridor floor

Monthly fixing · 20-day publication lag · 30–200 corridor · rounding applied exactly once, at publication.

Methodology

Volume-weighted average UPI Technical Decline rate across a named basket of the largest remitter banks, in basis points.

Source data

NPCI

Monthly fixing · 20-day publication lag

Contract machinery · fixed
Multiplier₹1,50,000 / point
Tick0.1 = ₹15,000
Minimum clip20 lots
Settlementbilateral, at fixing
Full-resolution history
175.6056.60
120 published values · one decimal place · settlement on first publication
Median level
111.6
Range
56.6 – 175.6
In 30–200 corridor
100%
Keeps one lot institutional in size
Gross notional, 1 lot
₹1.89 crore
At the latest fixing

Publication chain

Verified. 120 publications form an unbroken hash chain, and every signature checks out.
SeqWindowFixingLevelObsDual checkRecord hash
1202026-08-01 → 2026-08-312026-09-20126.21agreedf08a0b1891ec…
1192026-07-01 → 2026-07-312026-08-2099.61agreede4069f3a4045…
1182026-06-01 → 2026-06-302026-07-2068.31agreed418d3dc9f1ac…
1172026-05-01 → 2026-05-312026-06-2076.91agreedd854234fc115…
1162026-04-01 → 2026-04-302026-05-2094.31agreedfbd8d334b81c…
1152026-03-01 → 2026-03-312026-04-20101.21agreed4467e43d3e29…
1142026-02-01 → 2026-02-282026-03-20111.01agreed6b6463cbf75e…
1132026-01-01 → 2026-01-312026-02-20110.31agreedfd6a0bd7c3d1…
1122025-12-01 → 2025-12-312026-01-20105.61agreedada4b98cc86e…
1112025-11-01 → 2025-11-302025-12-20108.01agreedae79cc531930…
1102025-10-01 → 2025-10-312025-11-20121.91agreedbf8535b3001b…
1092025-09-01 → 2025-09-302025-10-2093.01agreed935e30bbbb70…

Contracts referencing this index

DPRI-CAPcapped call
₹1,50,000 per point · 0.1 tick · min 20 lots
Payoff scenario →
DPRI-LINlinear
₹1,50,000 per point · 0.1 tick · min 20 lots
Payoff scenario →

Methodology, version 1.0

Digital Payments Reliability Index

Volume-weighted average UPI Technical Decline rate across a named basket of the largest remitter banks, in basis points.

Source. NPCI — UPI Ecosystem Statistics — Technical Decline, top 50 remitter banks.

Scaling. ×1.8, as published.

Who hedges this. Large merchants and quick-commerce platforms, where a decline spike is direct lost revenue; payment aggregators with uptime obligations; lenders collecting on UPI autopay mandates.

Methodology note. Technical Decline only, never Business Decline: BD is user behaviour (wrong PIN, exceeded limit) while TD is infrastructure failure, and only the latter is the risk being transferred. Scaled x1.8 so that a typical basket reading lands near 110 index points, inside the 30-200 corridor; one index point is therefore 0.56 basis points of decline.

Revision policy. Settlement uses the index as published on the fixing date. Subsequent revisions by the source are recorded in the append-only archive and reflected in future publications, but never re-settle a contract that has already fixed.