The PIDF scheme, operationalised by the Reserve Bank from January 2021, subsidizes deployment of Points of Sale (PoS) infrastructure (physical and digital modes) in tier-3 to tier-6 centers and northeastern states of the country.
From August 26, 2021, beneficiaries of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme) in tier-1 and tier-2 centers were also covered.
The contribution to PIDF is made by the Reserve Bank, authorized card networks and issuing card banks; The corpus currently stands at Rs 811.4 crore, the RBI said.
Acquiring institutions (banks and non-banks), registered under the PIDF scheme, commit region-wise deployment targets, submit deployment statistics and claim subsidy for devices which fulfill the prescribed criteria.
On Wednesday, the RBI announced that to give further impetus to deployment of payment acceptance touchpoints, the PIDF scheme is being modified by enhancing the subsidy amount and simplifying the subsidy claim process.
This will further accelerate the deployment of payment acceptance 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.