RBI’s Rs 350cr subsidy to add 10L card machines

In a big boost for digital payments, the RBI has announced a fund that will subsidise deployment of card-acceptance devices and QR codes in tier-3 to tier-6 towns and in the northeast. The Payments Infrastructure Development Fund (PIDF), which currently stands at Rs 345 crore, will go up further with contributions from banks yet to come in.



January 06, 2021 at 07:30AM