RBI set up PIDF

Why is it in News?
  • RBI set Payments Infrastructure Development Fund (PIDF)
More on News
  • It is to encourage acquirers to deploy Point of Sales (PoS) infrastructure
  • This infrastructure should be both physical and digital mode
  • To be deployed in tier- 3 and tier- 6 centers and North Eastern states
  • RBI will make 50% contribution to PIDF and rest 50% will come from card issuing banks and card networks operating in India
Posted by Jawwad Kazi on 6th Jun 2020
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