Payments Infrastructure Development Fund (PIDF) scheme was recently in news, consider the following statements with reference to PIDF:
1. It aimed at encouraging deployment of more digital payments infrastructure across tier-3 to tier-6 centres.
2. The fund will be used to subsidize scheduled commercial banks only.
3. The fund has a corpus of 1000 crores.
Which of the statements given above is/are correct?
• Statement 1 is correct: Payments Infrastructure Development Fund (PIDF) scheme of RBI aimed at encouraging deployment of more digital payments infrastructure across tier-3 to tier-6 centres. • Statement 2 is incorrect: The fund will be used to subsidize banks and non-banks for deploying payment infrastructure like PoS machines etc, which will be contingent upon specific targets being achieved • Statement 3 is incorrect: PIDF presently has a corpus of ₹ 345 crore (₹ 250 crore contributed by RBI and ₹ 95 crore by the major authorised card networks in the country).
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