Which of the following statements is/are correct with reference to the payment infrastructure development fund (PIDF) scheme introduced by RBI?

Answer & Explanation

Option: Both A & B

Explanation:

The Reserve Bank of India (RBI) announced operational guidelines for the Payments Infrastructure Development Fund (PIDF) scheme, aimed at encouraging deployment of more digital payments infrastructure across tier-3 to tier-6 centres. The scheme is intended to subsidise deployment of payment acceptance infrastructure in tier-3 to tier-6 centres, with a special focus on the north-eastern states of the country. The fund will be operational for three years effective from January 1, 2021 and may be extended for two more years.