Payment Infrastructure Development Fund

• 21 Jul 2020

• To encourage acquirers to deploy point of sale (PoS) infrastructure, both physical and digital, in tier-3 to tier-6 centres and north eastern states, the Reserve Bank of India is setting up a Payment Infrastructure Development Fund (PIDF) of Rs 500 crore.
• The RBI has made an initial contribution of Rs 250 crore covering half the fund. The remaining will come from the card issuing banks and card networks operating in the country.