RBI includes PM SVANidhi Scheme beneficiaries under PIDF Scheme

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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