Question : On which date RBI announced the guidelines for Payments Infrastructure Development Fund ?
(a) January 05, 2021
(b) January 02, 2021
(c) December 26, 2020
(d) December 22, 2021
Answer (a)
Related facts
- On January 05, 2021 RBI announced the guidelines for PIDF(Payments Infrastructure Development Fund).
- These Guidelines are issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
PIDF
- PIDF is intended to subsidise deployment of payment acceptance infrastructure in Tier-3 to Tier-6 centres with special focus on North-Eastern States of the country. It envisages creating 30 lakh new touch points every year for digital payments.
Some important guidelines are as follows —
- An Advisory Council (AC), under the Chairmanship of the Deputy Governor, RBI, has been constituted for managing the PIDF.
- PIDF will be operational for a period of three years from January 01, 2021 and may be extended for two more years depending upon the progress.
- PIDF presently has a corpus of ₹ 345 crore (₹ 250 crore contributed by RBI and ₹ 95 crore by the major authorised card networks in the country).
By — Pankaj Pandey.
Link:
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12009&Mode=0#ANI