17) June 2020 > 8) Payment Infrastructure Development Fund (PIDF) > Flashcards
Who has started PIDF ?
RBI
Aim ?
To increase and encourage acquirers to deploy POS infrastructure in both physical and digital form in tier 3 to tier 6 centres including NE states
Who will manage this fund ?
Managed and administered by RBI but an advisory council will govern this
Funding ?
Total 500 cr – 250cr by RBI and other half by banks who issue such PoS machines and vendors of cards like Master, VISA etc