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    Home » PIDF Update: Corpus at Rs 613 crore and over 57 lakh payment acceptance points added
    Payments

    PIDF Update: Corpus at Rs 613 crore and over 57 lakh payment acceptance points added

    The PIDF Scheme was operationalised by RBI in January, 2021, it subsidises deployment of points of sale (PoS) infrastructure (physical and digital modes)
    November 16, 20212 Mins ReadBy editor
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    The Reserve Bank of India (RBI) on November 16 announced the update on payments infrastructure development fund (PIDF).

    The PIDF Scheme was operationalised by RBI in January, 2021, it subsidises deployment of points of sale (PoS) infrastructure (physical and digital modes) in tier-3 to tier-6 centres and north eastern states of the country. Further, from August 26, 2021, beneficiaries of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme) in tier-1 and tier-2 centres have also been covered.

    Acquiring institutions (banks and non-banks), registered under the PIDF Scheme, commit region-wise deployment targets, submit deployment statistics and claim subsidy for devices which fulfil the prescribed criteria, RBI said in a release.

    Contribution to the PIDF is made by the Reserve Bank, authorised card networks and card issuing banks.

    SourceAmount (in ₹ crore)
    Reserve Bank of India250.00
    Authorised Card Networks153.72
    Card Issuing Banks210.17
    Total613.89
    Source: RBI

    The number of payment acceptance devices deployed under the PIDF Scheme as at end-September 2021 is –

    LocationPhysical DevicesDigital Devices
    Tier 3 & 4 Centres98,50420,46,075
    Tier 5 & 6 Centres84,96830,47,750
    North-eastern States18,4492,42,145
    Tier 1 & 2 Centres (PM SVANidhi Scheme)44,0212,00,708
    Total2,45,94255,36,678
    Source: RBI

    Physical devices include PoS, mPoS (mobile PoS), GPRS (General Packet Radio Service), PSTN (Public Switched Telephone Network), etc. Digital devices include inter-operable QR code-based payments such as UPI QR, Bharat QR, etc.

    Previous ArticleShriram Capital appoints Ajay Thomas as Chief Digital Officer
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