RBI includes PM SVANidhi Scheme beneficiaries to PIDF

Reserve Bank of India had extended the scheme for encouraging the deployment of Point of Sale (PoS) infrastructure to street vendors which comes under the PM SVANidhi programme.

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The Reserve Bank has now decided to include street vendors identified as part of the PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi Scheme) in tier-1 and tier-2 centres as beneficiaries under the PIDF Scheme.

As hitherto, the street vendors in tier-3 to tier-6 centres will continue to be covered under the Scheme.

The Payments Infrastructure Development Fund (PIDF) scheme, with a corpus of Rs 345 crore, predicts making 30 lakhs new touch points each year for digital payments in level 3 to level 6 communities.