Payments Infrastructure Development Fund corpus touches Rs 811 crore

The Payments Infrastructure Development Fund (PIDF) which was set up by the Reserve Bank of India (RBI) to subsidise 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 in June 2020, has reached a corpus of Rs 811.4 crore, the RBI said today. 

The contribution to the PIDF is made by the RBI, authorised card networks and card issuing banks. the RBI had made an initial contribution of Rs 250 crores to the PIDF.

Total physical devices installed under this scheme is 4,11,492 while the number of digital devices are 1,14,05,116.