The RBI Extends the Payment Infrastructure Development Fund (PIDF) Scheme Until Dec 31, 2025
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- Last Updated on 2 January, 2024
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RBI/2023-24/101 CO.DPSS.POLC.No.S940/02-29-005/2023-24 DATED 29/12/2023 & Press Release: 2023-2024/1571
Earlier, in 2021 RBI issued a circular on the “Operationalisation of Payments Infrastructure Development Fund (PIDF) Scheme” for a period of 3 years. Now, the PIDF Scheme is being extended by two years, i.e., upto December 31, 2025.
Further, the following enhancements have also been made to the scheme:
(a) Inclusion of beneficiaries identified as part of the PM Vishwakarma Scheme under PIDF Scheme
The beneficiaries identified as part of the PM Vishwakarma Scheme, across the country, shall be included as merchants for deployment under the PIDF Scheme. All eligible installations since the inception of the PM Vishwakarma Scheme, i.e., September 17, 2023, may prefer claims under the PIDF Scheme.
(b) Soundbox devices and Aadhaar-enabled biometric devices are eligible to claim subsidy as part of the scheme
The PIDF Scheme presently subsidises the deployment of acceptance infrastructure based on the category of device – physical or digital. It has been decided to enable other contemporary devices, viz.,
(i) Soundbox devices – providing instant audio payment confirmation along with payment acceptance by “scan & pay” and Near Field Communication (NFC), and
(ii) Aadhaar-enabled biometric devices – certified biometric scanner devices facilitating Aadhaar authentication for acceptance of payment by merchant through BHIM Aadhaar Pay, would be eligible for subsidy under the Scheme, for installations made from October 01, 2023 onwards.
(c) Increase in the amount of subsidy for devices deployed in special focus areas
The amount of subsidy for devices deployed in special focus areas, viz., North Eastern States, Union Territories of Jammu & Kashmir and Ladakh is increased from 75% to 90% of the total cost, irrespective of the type of device, for installations made from October 01, 2023 onwards.
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