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RBI includes PM SVANidhi Scheme beneficiaries under PIDF Scheme

Sumit Arora Published On August 27th, 2021 Leave a comment

The Reserve Bank of India has announced to include street vendors of tier-1 and tier-2 centres, identified as part of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme) as beneficiaries under the Payments Infrastructure Development Fund (PIDF) Scheme. Payments Infrastructure Development Fund (PIDF) Scheme was launched by RBI to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier-3 to tier-6 centres and northeastern states.

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So now RBI has specifically allowed street vendors of Tier-1 and Tier-2 centres, to be part of PIDF Scheme. The street vendors in tier-3 to tier-6 centres will continue to be covered under the Scheme by default. PIDF presently has a corpus of Rs. 345 crore.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.