RBI Operationalises Payment Infrastructure Development Fund

On 5th January, 2021, the RBI announced creation of a Payments Infrastructure Development Fund (PIDF).

  • The setting up of PIDF is in line with the measures proposed by the Payment and Settlement Systems in India: Vision 2019 – 2021.

Need

  • Over the years, payments ecosystem in the country has evolved with a wide range of options such as bank accounts, mobile phones, cards, etc.
  • In order to provide further fillip to digitisation of payment systems, it is necessary to give impetus to acceptance infrastructure across the country, more so in underserved areas.

Objectives

  • To subsidise deployment of payment acceptance infrastructure in ....
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