Question
Which of the following regulatory body has announced the
creation of a Rs. 500-crore Payments Infrastructure Development Fund (PIDF)?Solution
Reserve Bank of India (RBI) has announced the creation of a Rs. 500-crore Payments Infrastructure Development Fund (PIDF). The Payments Infrastructure Development Fund (PIDF) scheme had deployed more than 4.11 lakh PoS, mobile PoS, and other physical devices across the country as of April 30, 2022, according to the RBI. The scheme also had deployed 1,14,05,116 digital devices, including interoperable QR code-based payments such as UPI QR and Bharat QR.
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