RBI extends payment infrastructure scheme

MUMBAI: The RBI has extended its Payment Infrastructure Development Fund (PIDF) scheme until December 31, 2025 and has expanded its scope. Under the revised PIDF scheme, merchants covered by the PM Vishwakarma Scheme across centres are included as beneficiaries. Moreover, the eligibility criteria for subsidy claims have been expanded to include sound box devices and Aadhaar-enabled biometric devices.
Launched in January 2021 for a three-year duration, the scheme promotes digital payment infrastructure in tier-3 to tier-6 centers, northeastern states, and the UTs of Jammu & Kashmir and Ladakh.As of November 30, 2023, the PIDF corpus stands at Rs 1,026 crore.