Payments Infrastructure Development Fund – Inclusion of PM SVANidhi Scheme beneficiaries

Last updated: 28 August 2021

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The Reserve Bank of India has expanded the Payments Infrastructure Development Fund (PIDF) Scheme to include street vendors registered under the PM SVANidhi Scheme. This initiative aims to promote digital transactions at the grassroots level by encouraging the deployment of Point of Sale (PoS) infrastructure. Initially focused on smaller towns and the North East, the PIDF now covers PM SVANidhi beneficiaries in tier-1 and tier-2 centres, while continuing to support vendors in tier-3 to tier-6 centres.

Reserve Bank of India

Date : Aug 26, 2021

The Payments Infrastructure Development Fund (PIDF) Scheme was announced by the Reserve Bank on January 5, 2021. The objective of the scheme was to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier-3 to tier-6 centres and north eastern states.

The Reserve Bank has now decided to include street vendors identified as part of the PM Street Vendor’s AtmaNirbhar 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.

This decision to expand the targeted beneficiaries under the PIDF scheme will provide fillip to the Reserve Bank’s efforts towards promoting digital transactions at the grass root level.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/747

FAQ :

The PIDF Scheme, announced by the Reserve Bank of India, aims to encourage the deployment of Point of Sale (PoS) infrastructure in tier-3 to tier-6 centres and north eastern states.

Street vendors identified under the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi Scheme) in tier-1 and tier-2 centres are now included as beneficiaries.

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

The expansion aims to promote digital transactions at the grassroots level by providing better payment infrastructure to street vendors.

The PIDF Scheme was originally announced by the Reserve Bank of India on January 5, 2021.

Notification No : PR : 2021-2022/747
Source : https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52112

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