RBI extends payments infrastructure development fund scheme till 2025.

National

The Reserve Bank of India (RBI) on Friday announced its decision to extend the Payments Infrastructure Development Fund (PIDF) for two years up to December 31, 2025. Earlier, the scheme was launched in 2021 for a period of three years.As part of the announcement, beneficiaries of the PM Vishwakarma Scheme have been included as merchants under the PIDF scheme. Similarly, soundbox devices and Aadhaar-enabled biometric devices are eligible to claim subsidy as part of the scheme.


      Additionally, the subsidy for special focus areas, such as North Eastern states, Jammu and Kashmir, and Ladakh, has been standardised at 90 per cent from 75 per cent of the device cost, irrespective of the device type.

      The corpus of PIDF stands at Rs 1,026.37 crore as of November 30, 2023, according to an RBI release.

      It aims to increase the number of acceptance devices in the country by adding 30 lakh touchpoints every year.

 

     


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