CURRENT AFFAIRS

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

In order to encourage the deployment of Points of Sale infrastructure in smaller cities and towns, RBI has initiated with how much Payments Infrastructure Development Fund?

A	Rs 200-crore
B	Rs 500-crore
C	Rs 300-crore
D	Rs 400-crore

Explanation:

Detailed explanation-1: -What is PIDF scheme? The Payment Infrastructure Development Fund (PIDF) Scheme was operationalised by the central bank in January 2021 to incentivise deployment of Point-of-Sale machines (PoS), mPoS (mobile PoS), Quick Response (QR) codes in tier-3 to tier-6 centres and North Eastern States.

Detailed explanation-2: -In India, the RTGS and NEFT payment systems are owned and operated by RBI. Systems like IMPS, RuPay, UPI, etc., are owned and operated by National Payments Corporation of India (NPCI), which is a not-for-profit entity promoted by banks.

Detailed explanation-3: -The Reserve Bank has launched two key initiatives today – (1) UPI123Pay – Option to make Unified Payments Interface (UPI) payments for feature phone users, and (2) DigiSaathi - a 24x7 Helpline to address the queries of digital payment users across products.

There is 1 question to complete.