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Payments Infrastructure Development Fund corpus touches Rs 811 crore

Published on June 10, 2022
Current Context: According to RBI's recent data Payments Infrastructure Development Fund (PIDF) has reached a corpus of Rs 811.4 crore.
Payments Infrastructure Development Fund corpus touches Rs 811 crore
  • PIDF was set up by the Reserve Bank of India to subsidize the deployment of Points of Sale infrastructure in tier-3 to tier-6 centers and northeastern states of the country in June 2020.
  • It is also in line with the RBI’s proposal to set up an Acceptance Development Fund which will be used to develop card acceptance infrastructure across small towns and cities.
  • Besides RBI had made an initial contribution of Rs 250 crores to the PIDF and the remaining will take by the card-issuing company.
  • The fund will be governed through an advisory council but will be managed and administered by the RBI.
  • As per data number of physical devices installed under this scheme is 4,11,492 while the number of digital devices 1,14,05,116.

Question:

Q.1 Consider the following statements regarding Payments Infrastructure Development Fund.
A. PIDF has been set up by the National Payment Corporation of India
B. It has a total corpus of 500 crores
C. PIDF is in line with the RBI’s proposal to set up an Acceptance Development Fund.

Select the correct option given below.
a. Only A
b. Both B & C
c. All of the above
d. None of the above
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