RBI Extends Payments Infrastructure Development Fund Scheme Till 2025

Current Context: The Reserve Bank of India (RBI) has extended the Payments Infrastructure Development Fund (PIDF) scheme until December 31, 2025.

• The PIDF scheme was first operationalized in 2021.
• It is designed to offer financial aid to banks and non-bank financial companies (NBFCs) for the deployment of point-of-sale terminals and other payment acceptance infrastructure.
• The scheme aims to encourage the deployment of digital payment infrastructure in North Eastern states, Jammu & Kashmir, Ladakh, and tier-III to VI centres.
• This extension aims to continue fostering financial inclusion and supporting the country’s payment infrastructure.

Question:

Q.1 Until when has the PIDF scheme been extended?
a. December 31, 2023
b. December 31, 2024
c. December 31, 2025
d. December 31, 2026