RBI is developing a ₹500-crore Payments Infrastructure Development Fund (PIDF) to push digital payments for the duration of India. It would inspire acquirers to install Points of Sale (PoS) infrastructure, both bodily and digital modes, in tier-3 to tier-6 centres and Northeastern states. It will first of all make contributions ₹250 crore to PIDF, with the closing coming from card-issuing banks and card networks.
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