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More Than 2 Lakh PoS, 55 Lakh Digital Payment Devices Set Up Under RBI Scheme

Below an RBI fund, lakhs of bodily and digital cost gadgets have been arrange throughout cities

Virtually 2.4 lakh bodily gadgets like level of sale (PoS), cellular level of sale (mPoS) and normal packet radio service (GPRS) had been arrange in smaller cities below the Reserve Financial institution of India’s (RBI) Funds Infrastructure Growth Fund (PIFD) until September 30, 2021.

In response to information launched by Reserve Financial institution of India (RBI), 2,45,942 bodily gadgets had been put in in tier-3 to tier-6 centres in addition to in north-eastern states.

RBI had operationalised PIFD on January 1, 2021, which subsidises deployment of PoS infrastructure – each bodily in addition to digital modes – within the abovementioned centres.

Beneficiaries of the Centre’s road distributors’ scheme or PM SVANidhi scheme from tier-1 and tier-2 centres have additionally been introduced below PIFD’s ambit since August 26, 2021.

Along with bodily gadgets, greater than 55 lakh or 55,36,678 digital gadgets like inter-operable QR code-based funds like UPI QR and Bharat QR have been put in in tier-3,4,5 and 6 centres in addition to north-eastern states.

Contribution to the PIDF is made by the RBI, authorised card networks and card issuing banks. Complete contribution from all these contributors presently stands at Rs 614 crore in the direction of PIDF.

Buying establishments (banks and non-banks) registered below the PIDF scheme, commit region-wise deployment targets, submit deployment statistics and declare subsidy for gadgets which fulfil the prescribed standards.

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