RBI extends PIDF scheme by 2-yrs

Mumbai: The RBI on Friday extended the Payments Infrastructure Development Fund (PIDF) Scheme by two years till December 2025, and also widened the scope to provide subsidy by including sound box instruments and Aadhaar-enabled biometric devices. The corpus of PIDF stands at Rs 1,026.37 crore as on November 30, 2023.

The PIDF scheme was operationalised by the Reserve Bank in January 2021 for three years. The objective of the scheme was to encourage deployment of payment acceptance infrastructure such as physical Point of Sale (PoS) terminals, Quick Response (QR) codes, in tier-3 to tier-6 centres, North Eastern states and Union Territories of Jammu & Kashmir and Ladakh.