New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Read the following passage and answer the next 3 question (Q15 to Q17) More than 4.11 lakh PoS, mobile PoS and other physical devices were deployed across the country under the Payments Infrastructure Development Fund (PIDF) scheme as on April 30, 2022, as per an update from the RBI. Besides, 1,14,05,116 digital devices, including inter-operable QR code-based payments such as UPI QR, Bharat QR, were deployed under the scheme. In June 2022, theRBIannounced that to give further impetus to deployment ofpaymentacceptance touchpoints, the PIDF scheme is being modified by enhancing the subsidy amount and simplifying the subsidy claim process. This will further accelerate the deployment ofpaymentacceptance touchpoints across the country, with special focus on rural areas. All eligible installations since the inception of the scheme may prefer claims under the revised scheme, the central bank had said. Source : Business Standard

    What is the amount of contribution by RBI to the PIDF

    fund?
    A Rs.100 crore Correct Answer Incorrect Answer
    B Rs.200 crore Correct Answer Incorrect Answer
    C Rs.250 crore Correct Answer Incorrect Answer
    D Rs.375 crore Correct Answer Incorrect Answer
    E Rs.500 crore Correct Answer Incorrect Answer

    Solution

    Payment infrastructure development fund (PIDF) • Operationalised in January 2021 • Subsidises deployment of PoS infrastructure in tier-3 to tier 6 cities and North east states • From Aug 2021, beneficiaries of PMSVANidhi in tier-1 and tier-2 also cover ed • Advisory Council chaired by DG Mr. T Rabi Shankar • Contribution to PIDF was Rs.798.94 crore as of March 31, 2022 and around Rs.811 crore as of April 30, 2022. Of this, RBI has contributed Rs.250 crore while the remaining is by Authorised card networks/Card Issuing banks

    Practice Next